Bitcoin Surpasses Silver, Becomes Sixth Largest Asset in the World
Main Idea
Bitcoin has surpassed silver to become the sixth largest asset by market capitalization, driven by a surge in price and increasing demand, with analysts noting its growing role in the global financial system.
Key Points
1. Bitcoin's market capitalization has reached $2.34 trillion, overtaking silver's $2.163 trillion, making it the sixth largest asset globally.
2. Tech giants like Google and Meta trail behind Bitcoin and silver in market cap, while gold remains the top asset with a significantly higher valuation.
3. Bitcoin's price surged to a new all-time high above $118,000, defying macroeconomic uncertainty and geopolitical tensions.
4. Analysts attribute the rally to macroeconomic factors, record-high ETF inflows, and renewed confidence in digital assets.
5. Bitcoin's Long-Term Holder Net Unrealized Profit and Loss (NUPL) remains below the euphoria zone, indicating potential for further growth.
6. Regulations like the EU’s MiCA have contributed to Bitcoin's growing acceptance in the global financial system.
7. The total crypto market capitalization has increased to $3.76 trillion, with Bitcoin leading the surge.
Description
Bitcoin (BTC) market capitalization has overtaken silver following the coin’s surge to a new all-time high above $118,000. According to Companies Market Cap , Bitcoin is now sitting in the sixth place among the world’s largest companies, metals, and digital assets, with a market cap of $2.34 trillion. Silver follows at spot number seven, with $2.163 trillion in market capitalization. Top assets by market cap: Source: companiesmarketcap.com Tech giants Google and Meta are behind BTC and silver, w...
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