Bitcoin has climbed past $70,000 and is now the world’s ninth-largest asset by market capitalization, among many publicly traded companies and precious metals. Despite overtaking silver’s market value in March, the leading cryptocurrency must reach $84,740 per coin to match silver’s current $1.67 trillion valuation.
Bitcoin Is Now in 9th Place Among the World’s Largest Assets
Bitcoin (BTC) has successfully regained a position above $70,000, placing it as the ninth-largest asset by market capitalization. Currently, its market cap surpasses Meta’s (formerly Facebook) $1.2 trillion valuation and Berkshire Hathaway’s $887.57 billion market cap. Silver, however, has seen a substantial increase in its valuation since March when BTC surpassed its market cap. At that time, silver’s global market capitalization was $1.38 trillion, which has now grown to $1.67 trillion.
Silver has experienced notable growth over the past few months. On March 11, 2024, when BTC overtook its market cap, silver was trading at $24.70 per ounce. Today, it trades at $29.68 per ounce, reflecting a 20.16% increase over the past 85 days against the U.S. dollar. To surpass silver’s market value now, BTC needs to reach $84,740 per coin, given the current 19.7 million BTC in circulation.
Surpassing Apple’s market cap would require a significantly higher price. BTC would need to climb to $151,210 per coin to exceed Apple’s $2.98 trillion valuation. To outstrip Microsoft, the largest company in the world by market cap at $3.092 trillion, BTC would need to reach $156,895 per coin. As for gold, the gap is even wider but still under a million dollars per coin.
To surpass silver (Ag), BTC must reach $84,740 per coin. To exceed Apple’s market cap, it needs to hit $151,210. To outdo Microsoft, BTC should attain $156,895, and to surpass gold (Au), the price per bitcoin must be $800,100.
To surpass gold’s current $15.763 trillion market cap, with the current 19.7 million BTC in circulation, BTC would need to be priced at $800,100 per unit. If we waited until there were 20 million BTC in circulation, BTC would need to be at least $788,400 per coin to exceed gold’s market cap. Finally, assuming all 21 million bitcoins were in circulation, BTC would need to reach $750,860 per coin to become the world’s largest asset by market valuation.
What do you think about bitcoin outpacing some of the largest market caps worldwide? Do you think bitcoin can outshine silver and Apple? Share your thoughts and opinions about this subject in the comments section below.
