In a remarkable feat, itcoin">Bitcoin (BTC) has surpassed the market capitalization of the precious metal silver after hitting a fresh all-time high price above $72,000. This milestone cements itcoin">Bitcoin’s standing as one of the world’s most valuable assets.
Data shows itcoin">Bitcoin’s market cap now exceeds $1.4 trillion, propelling it to the 8th position among assets with the largest market capitalizations globally. This places BTC above silver, which ranks 9th with a market cap of over $1.3 trillion.
The crypto’s latest surge allowed it to overtake the market values of major corporations like Visa, Tesla, Mastercard, and JPMorgan Chase. However, itcoin">Bitcoin still trails assets like gold, Microsoft, Apple, and Amazon in total market cap.
itcoin">Bitcoin first reclaimed the $1 trillion market cap level in February, leading to its move past Meta (Facebook’s parent company) earlier this month. Its ability to now eclipse a traditional store-of-value asset like silver highlights the growing perception of itcoin">Bitcoin as a viable value reserve.
While critics remain, this latest achievement showcases itcoin">Bitcoin’s rising economic significance and proliferation into mainstream finance. Many investors view the limited supply of 21 million bitcoins as a key advantage over fiat currencies.
As institutional adoption rises, itcoin">Bitcoin could continue encroaching on the market caps of other asset classes. This trajectory would further solidify cryptocurrencies as an entrenched part of the financial system.
