Bitcoin (BTC) has now become one of the top 10 largest assets based on market capitalization. This means that Bitcoin’s overall value is among the highest globally, showcasing its significance in the financial landscape.
As per Infinite Market Cap, Bitcoin (BTC) has outpaced major players like Berkshire Hathaway, Tesla, and Visa. The data from the platform reveals that Bitcoin’s market capitalization has surged to $809.6 billion, trailing just 3% behind Meta, the social media giant, which currently holds a market cap of $834.76 billion. This emphasizes Bitcoin’s remarkable standing in comparison to well-established financial and tech entities.
Source: 8marketcap
Bitcoin’s Market Cap Surges to March 2021 Highs Amidst Price Rally
Bitcoin’s market capitalization experienced a significant surge from November 27 to December 3, climbing from $724.03 billion to $816.94 billion, as reported by CoinMarketCap. This marks highs not witnessed since March 2021. The surge coincides with a substantial increase in the value of a single Bitcoin, surpassing $41,000 at the time of writing.
Although Bitcoin had dipped below $40,000 in April 2022, it has made a strong comeback in recent months. The resurgence is fueled by optimistic expectations surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the U.S. in 2024.
In the cryptocurrency industry, there is a prevailing sentiment among executives that a new bull cycle is beginning. Many industry analysts are increasingly optimistic, foreseeing Bitcoin reaching unprecedented all-time highs, potentially surpassing $100,000 by 2024.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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