Accéder au contenu principal

Bitcoin Is Now Bigger Than Silver, Rising to 8th Largest Financial Asset

Bitcoin’s bull run continues with full force as the asset broke above $71,000 earlier today and tapped a new all-time high at almost $72,000.

This means that its price has gained more than 60% since the start of the year, and its total market cap has soared to over $1.4 trillion for the first time ever. With this, BTC has managed to become the 8th largest financial asset.

BTC Bigger Than Silver

A lot can change in the cryptocurrency markets in a year. It was March 11, 2023, when Bitcoin had fallen back down to $20,000 after failing at $30,000. The doubters were once again bashing it, claiming that it had failed to serve as a hedge against inflation and a financial tool that performs well during uncertain times.

Yet, BTC didn’t stay there for long and started gaining traction in the following months. June arrived, and the world’s largest asset manager, BlackRock, filed to launch a spot Bitcoin ETF, which became a game-changer.

Being the most powerful financial organization in the world, BlackRock’s involvement turned the tables and the approval of such a product became a must. The hype was real and pushed BTC’s price north. In January 2024, the SEC indeed approved nearly a dozen Bitcoin ETFs and the massive demand for them propelled more price gains for the underlying asset.

This culminated last week when BTC broke its 2021 all-time high for the first time ahead of a halving. The asset kept climbing and soared to almost $72,000 earlier today, which is its highest price tag ever (for now).

Consequently, BTC’s market capitalization has soared to a record of its own at over $1.4 trillion. This means that Bitcoin has become the 8th largest global financial asset, ranking higher than Meta (Facebook) and the second-biggest commodity – silver.

Top 10 Largest Financial Assets. Source: CompaniesMarketCap

Who’s Next?

When CryptoPotato reported that Bitcoin had entered the top 10 by surpassing Warren Buffett’s Berkshire Hathaway, the cryptocurrency’s price was hovering around $60,000. Meta and silver were far ahead but it took BTC less than two weeks to surpass them both.

Although the next targets (Alphabet and Amazon) seem quite far as well now, BTC’s price would have to go above $85,000 (20% increase approximately) to go above Google’s parent company and to $94,000 (30%) to surpass Jeff Bezos’ corporate giant.

These numbers seem a bit far-fetched at the moment but recall that Bitcoin has gained more than 60% since the start of 2024 and 40% in the past two weeks alone.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).


Source link

The post Bitcoin Is Now Bigger Than Silver, Rising to 8th Largest Financial Asset appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Hong Kong SFC Raises Alert Over MEXC Imposter

The Hong Kong Securities and Futures Commission (SFC) has issued an alert on a suspected fraudulent platform impersonating the presence and operations of a popular cryptocurrency exchange MEXC. This development comes from a joint operation between the Hong Kong regulator and the local police force aimed at uncovering illicit activities of virtual asset trading platforms (VATPs). SFC Warns Hong Kong Citizens Of Fraudulent Trading Platform According to an announcement on February 9, the SFC is warning crypto enthusiasts and investors of an ambiguous trading platform that operates under the name “MEXC.” In a joint investigation with the Hong Kong police, the securities market regulator discovered that “MEXC” has lured several investors into becoming members of group chats in which it claimed to offer “free investment advice.” Through this medium, “MEXC” was able to direct unsuspecting investors into depositing funds through fraudulent websites in order to purchase cryptocurrencies. Th...
Enregistrer un commentaire
Lire la suite

What’s In Store For Bitcoin With 85% Of Holders In Profit

Amidst a renewed wave of optimism sweeping through the broader cryptocurrency landscape, the resurgence of Bitcoin (BTC) to the pivotal $37,500 price threshold has become a catalyst for positive shifts. At present, a staggering 85% of Bitcoin holders find themselves in a profitable position, a testament to the resilience and potential of the leading cryptocurrency. Encouragingly, key indicators hint at the likelihood of this percentage expanding in tandem with Bitcoin’s upward trajectory. Making Money With Bitcoin As the market plummeted from its all-time high in November 2021, the amount of Bitcoin supply in profit has reportedly hit levels last observed two years ago, according to Glassnode. The analytics service also stated that the amount of unrealized profit contained in these currencies is still very small. Based on the latest figures from blockchain analytics website IntoTheBlock, some 85% of Bitcoin holders are profitable at the current price of the first cryptocurrency,...
Enregistrer un commentaire
Lire la suite

Instagram Is Experimenting With an Option To Add Files to DMs

What if you could send files in your IG DMs? That may soon be an option, with app researcher Alessandro Paluzzi uncovering this process in the back-end data of the app. As you can see in this example, Instagram’s experimenting with a new option that would let you add files to your messages as attachments. Which is not overly surprising. You can already send documents within WhatsApp , and on Messenger (in limited capacity), and with Meta still working to integrate all of its messaging platforms into a single system , it makes sense that it would also need to replicate the functionality of each, to ensure full parity. So, basically, every function within Messenger, IG Direct and/or WhatsApp will eventually be available in each other app, as that will then enable Meta to link them all together into a singular messaging system. As such, I do think this is coming, and is more than just an experiment, which will provide expanded functionality within your IG DMs, and could be handy...
Enregistrer un commentaire
Lire la suite