Bitcoin has climbed past $70,000 and is now the worldās ninth-largest asset by market capitalization, among many publicly traded companies and precious metals. Despite overtaking silverās market value in March, the leading cryptocurrency must reach $84,740 per coin to match silverās current $1.67 trillion valuation.
Bitcoin Must Hit $84,740 to Match Silverās Market Cap, Over $800,000 to Surpass Gold
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Bitcoin Is Now in 9th Place Among the Worldās 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 Metaās (formerly Facebook) $1.2 trillion valuation and Berkshire Hathawayās $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, silverās 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 silverās market value now, BTC needs to reach $84,740 per coin, given the current 19.7 million BTC in circulation.
Surpassing Appleās market cap would require a significantly higher price. BTC would need to climb to $151,210 per coin to exceed Appleās $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 goldās 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 goldās market cap. Finally, assuming all 21 million bitcoins were in circulation, BTC would need to reach $750,860 per coin to become the worldās 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.
