Bitcoin’s Bullish Run Sees It Eclipse Silver’s Market Cap
Bitcoin’s Market Cap Valuation Overtakes Silver
$Bitcoin(BTC.CC$ ’s stellar price performance has propelled its market cap to $1.406 trillion , taking it past silver, which stands at $1.389 trillion, to become the 8th most valuable asset globally.
What’s more, Bitcoin is setting itself up to leapfrog $Alphabet-A(GOOGL.US$ for the seventh most valuable asset. However, for BTC to equal Google’s valuation, its price would need to soar to around $87,400 per coin, which seems within the realm of possibility, given the cryptocurrency’s recent momentum.
However, Bitcoin maxis often tout the more challenging goal of topping gold, which holds a current mind-boggling market cap valuation of $14.703 trillion. For Bitcoin to reach parity with gold’s valuation, its price would need to skyrocket to around $748,000 per coin. This feat seems improbable, barring a cataclysmic rebalancing of the legacy financial system and triggering a flight to Bitcoin en masse. $Gold(BK2110.US$
$Bitcoin(BTC.CC$ ’s stellar price performance has propelled its market cap to $1.406 trillion , taking it past silver, which stands at $1.389 trillion, to become the 8th most valuable asset globally.
What’s more, Bitcoin is setting itself up to leapfrog $Alphabet-A(GOOGL.US$ for the seventh most valuable asset. However, for BTC to equal Google’s valuation, its price would need to soar to around $87,400 per coin, which seems within the realm of possibility, given the cryptocurrency’s recent momentum.
However, Bitcoin maxis often tout the more challenging goal of topping gold, which holds a current mind-boggling market cap valuation of $14.703 trillion. For Bitcoin to reach parity with gold’s valuation, its price would need to skyrocket to around $748,000 per coin. This feat seems improbable, barring a cataclysmic rebalancing of the legacy financial system and triggering a flight to Bitcoin en masse. $Gold(BK2110.US$
On the Flipside
- Market cap rankings are highly changeable and may not necessarily reflect a long-term position.
- Bitcoin’s strong performance is fueled by institutional adoption via US BTC ETF products.
- While there is anecdotal evidence of retail FOMO, retail interest remains significantly below that seen in prior cycles, as evidenced by Google search volume.
- Market cap rankings are highly changeable and may not necessarily reflect a long-term position.
- Bitcoin’s strong performance is fueled by institutional adoption via US BTC ETF products.
- While there is anecdotal evidence of retail FOMO, retail interest remains significantly below that seen in prior cycles, as evidenced by Google search volume.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
BelleWeather : There is indeed, a ‘cataclysmic rebalancing of the legacy financial system’ afoot! (Though it may take a few years to overtake gold.)