With a market capitalization reaching $1.45 trillion, Bitcoin now overtakes Meta Platforms in the ranking of the most valuable assets. This rise reinforces the currency's position as a value of global importance, rivaling the giants of the financial markets.
Satoshi Nakamoto's creation surpasses that of Mark Zuckerberg
Since its low point at the end of 2022, the price of Bitcoin has continued to surprise, outperforming the most important assets in the world. It thus returned to a market capitalization exceeding $1,000 billion in February 2024.
After reaching a new all-time high at $73,750 in March, bringing its capitalization to $1,440 billion, BTC stabilized above $54,000, awaiting a catalyst for a new movement . This trigger could well be the result of the presidential elections in the United States.
🗳️ To go further – American elections: Analysis of the program of Donald Trump and Kamala Harris concerning cryptocurrencies
While the counting of votes continued and the media announced the probable victory of Donald Trump in the “swing states”, these historically undecided states that could tip the election, the price of BTC soared, reaching a new high historic at $75,340.
Indeed, the hope of seeing a president openly favorable to the acceptance and adoption of Bitcoin and other cryptocurrencies has driven the market capitalization of BTC to climb to $1,490 billion, surpassing its records of 2021 and last March.
Ranking of the most capitalized assets in the world
With a capitalization of $1,445 billion, the Meta Platforms group, led by Mark Zuckerberg, is now positioned just behind Bitcointhe creation of Satoshi Nakamoto.
Further down the ranking, we find Tesla in 14th place with $807 billion in capitalization, JP Morgan in 17th with $623 billion, Mastercard in 25th with $505 billion, and the cryptocurrency Ether (ETH) at 34th place with $312 billion.
Ahead of Bitcoin are Saudi Aramco, the Saudi oil company, with a capitalization of $1,765 billion, as well as silver (XAG), valued at $1,811 billion. For the capitalization of BTC to exceed these 2 assets, its price would have to exceed $91,000.
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How high could the BTC price go?
Vincent Ganne, analyst from our Cryptoast Academy group, shared this Tuesday, in his YouTube video, his outlook on the evolution of the BTC price for the next bullish cycle.
According to him, the price of Bitcoin could reach $200,000, bringing its capitalization to nearly $4,000 billion.
📰 Also read in the news – Dogecoin (DOGE) climbs 25% in anticipation of a Donald Trump victory
If the stock market does not continue to rise in parallel, Bitcoin could then rise to 2nd place among the most capitalized assets in the world, just behind goldcurrently valued at around $18.4 trillion.
Cryptoast Academy: Don’t waste this bull run, surround yourself with experts
Find Vincent Ganne's full analysis in his latest video on the Cryptoast Academy YouTube channel:
Source: Companiesmarketcap
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First attracted by the lure of gain, I am now trapped deep into the rabbit hole. With no way out, I just have to share my knowledge and convey the passion I have for Bitcoin. I am also the creator of Adopt a Block, an educational site dedicated to Bitcoin.
Marius Farashi Tasooji
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