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Bitcoin Is Now Among Top 10 Most Valuable Global Assets

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Bitcoin Is Now Among Top 10 Most Valuable Global Assets

Bitcoin’s price is up over 75% in the last month and almost 25% in the last week, to reach the $34,000 mark. The surging price combined with newly minted Bitcoin has resulted in a market capitalization of $638 billion.

That’s good enough to make BTC the ninth-most-valuable asset in the world, according to Asset Dash, which tracks stocks, exchange-traded funds, and cryptocurrencies.

Analysts Explain Why Bitcoin’s Price Is Going Crazy This Weekend

Fewer than two weeks ago, Bitcoin supplanted Visa on the list. Then, just five days later, it overcame a $70 billion deficit to overtake Berkshire Hathaway, the company run by Bitcoin detractor Warren Buffett. Since, BTC has also moved past shares in Taiwan Semiconductor Manufacturing.

Above Bitcoin is a murderer’s row of blue chip companies. Apple leads the way with a market cap of $2.23 trillion, followed by Microsoft ($1.65 trillion), Amazon ($1.62 trillion), Google parent company Alphabet ($1.18 trillion), and Facebook ($773 billion).

Chart showing that Bitcoin is in the top 10 of all assets
Number 9….number 9…number 9. Image: Asset Dash

But spots 6 through 8 look ripe for the picking if Bitcoin can continue its upward momentum. Shares in Chinese conglomerate Tencent are worth $698 billion, Elon Musk’s Tesla commands a market cap of $697 billion, and Chinese tech firm Alibaba is worth $650 billion—just $12 billion more than BTC’s ever-adjusting market cap.

Bitcoin isn’t the only cryptocurrency asset making moves. Ethereum is now the 82nd-most-valuable asset, with a market capitalization north of $125 billion. That asset is up 50% in the last week, helping it recently pass financial services firm Morgan Stanley and the ubiquitous Starbucks.

Other cryptocurrencies in the top 1,000 include Tether (#475), Litecoin (#804), XRP (#812), Polkadot (#877), Cardano (#922), and Bitcoin Cash (#939).

Source

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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