Bitcoin (BTC) has once again reached the $50K mark on February 12th, resulting in a market cap value of $981.86 billion. This achievement has propelled Bitcoin back into the top 10 most valuable assets by market capitalization, when compared to the stocks of the world’s most valuable companies and precious metals.
Recent reports from Cointelegraph suggest that this surge in Bitcoin’s price can be attributed to investor excitement surrounding Bitcoin exchange-traded funds and the upcoming ‘halvening’. If this bullish trend continues, Bitcoin could potentially climb higher in the market capitalization rankings. In its previous all-time-high, Bitcoin reached a market cap of $1.28 trillion, with each bitcoin valued at $67,617.02.
At the time of writing, BTC currently holds the 10th position comfortably, with a value of $981.86 billion. It is trailing behind Meta (formerly known as Facebook), with a difference of approximately $235 billion. Meta’s market cap stands at $1.214 trillion. Although it is unlikely that BTC will catch up to Meta in one go, the current 24-hour trend shows Meta up by 1.73% and Bitcoin up by 3.22%.
If Bitcoin manages to surpass Meta, the next targets for Bitcoin would be silver ($1.28 trillion) and big tech companies like Amazon, Nvidia, and Alphabet (all valued around $1.8 trillion). After that, Bitcoin would need to reach around $100K per coin in order to compete with Saudi Aramco, Microsoft, and Apple, who are part of the $2 trillion-dollar club.
Once Bitcoin overcomes these challenges, the only thing standing in its way of reaching the top spot would be gold. However, with a total market capitalization of $13.65 trillion, gold represents the Mount Everest of asset obstacles to overcome.
Meanwhile, Ethereum (ETH) has also seen a positive increase of 3.45% at the time of writing. Its current market cap of $313.54 billion places it in 34th place, surpassing Nestle ($294.8 billion) and Toyota ($307.81 billion). These are the only cryptocurrencies that are represented in the top 100.
Some analysts speculate that if Ethereum continues its upward momentum alongside Bitcoin’s gains, it could potentially challenge big tech companies like Tencent and Samsung, both of which are valued at less than $400 billion.
It is important to note that this article does not provide investment advice or recommendations. Investing and trading in cryptocurrencies involves risks, and readers should conduct their own research before making any decisions.