Contents
- 1 Bitcoin Surpasses Silver to Become 8th Largest Asset Globally
Bitcoin Surpasses Silver to Become 8th Largest Asset Globally
Bitcoin’s Market Cap Exceeds Silver and Major Companies
Bitcoin Overtakes Silver with a Market Cap of $1.752 Trillion
Bitcoin has surpassed silver to become the 8th largest asset in the world, with a market capitalization of $1.752 trillion, edging out silver at $1.726 trillion. This surge has also seen Bitcoin’s market cap exceed those of major companies like Meta Platforms ($1.472 trillion), Tesla ($1.123 trillion), and Warren Buffett’s Berkshire Hathaway ($1.007 trillion).
Optimism Fuels Bitcoin’s Surge
Bitcoin Soars 9% in 24 Hours
The cryptocurrency surged 9% to $88,570 in the last 24 hours, fueled by optimism surrounding Donald Trump’s election win and expectations of a more crypto-friendly U.S. government. The rise in Bitcoin’s value has been driven by the market sentiment and positive outlook on the regulatory environment.
Gold Remains the Top Asset
Gold Maintains Dominance with a Market Cap of $17.6 Trillion
While Bitcoin makes waves in the market, gold maintains its position as the top asset with a market cap of $17.6 trillion. Other top assets include Nvidia, Apple, Microsoft, and Alphabet (Google) in the top five.
Bitcoin Nears $100K Mark
Bitcoin’s Momentum Towards $100K
Bitcoin has been a standout performer since the election, reaching $89,604 and achieving a nearly 30% gain. With strong support at $75,600, BTC is now just $11,000 away from the $100K mark. Experts predict that Bitcoin’s momentum could lead it to break the $100,000 mark by the end of the year.
MicroStrategy’s Significant Bitcoin Acquisition
MicroStrategy’s Latest Bitcoin Acquisition
MicroStrategy Inc. recently acquired 27,200 Bitcoin for $2.03 billion, marking its largest purchase since it began its Bitcoin strategy four years ago. This acquisition, coupled with the positive market sentiment, has boosted Bitcoin’s value and reinforced its position as a leading digital asset.
Predictions for Bitcoin’s Future
Experts Forecast Bitcoin’s Growth
Experts believe that Bitcoin’s strong momentum could see it reach $90K and eventually break the $100K mark by the end of the year. Alankar Saxena, Co-founder of Mudrex, predicts that Bitcoin has gained enough momentum to surpass $100,000, making it an exciting time for investors in the cryptocurrency market.
Disclaimer
Recommendations and opinions expressed by experts are their own and do not necessarily reflect the views of The Economic Times. Investors should exercise caution and conduct their own research before making investment decisions.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
