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“Slowly But Surely” After Surpassing Facebook, Tesla, Visa, Ali baba, Nivida In Market Cap, Bitcoin Is On Its Way To Beat Silver

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As Bitcoin is a limited asset, with a total supply of just 21 million, analysts predict that the currency can match the gold in terms of market capitalization.

Read: Michael Saylor Says Bitcoin ETFs Will Take Financial Markets By Storm



After spending a few weeks on the sidelines, bitcoin rose above $68,000, making a new all-time high.

This week bitcoin started bullishly it can be a week that promises for the BTC to reach new highs and soon crosses $70,000.

With this move, bitcoin came remarkably close to the market capitalization of the famous commodity, the precious metal, silver, with a market cap of $1.37 trillion. Bitcoin’s current market cap is $1.28 Trillion according to coinmarketcap.

Read: Newly Elected New York’s Mayor, Eric Adams Will Take His First Three Paychecks In Bitcoin

top metals market cap

 

Will Bitcoin reach the market value of gold?

Bitcoin recently surpassed the market value of companies such as Facebook, Tesla, Visa, Ali baba, Nivida and is now on its way to surpassing Jeff Bezos’ company, Amazon which market cap is $1.769 Trillion.

companies market cap

In terms of market capitalization, the GOLD has the largest cap asset worth $11.55 trillion, or 10 times that of bitcoin today.

Given bitcoin’s structure with a limited supply of just 21 million, analysts predict that the BTC will match the gold in terms of market capitalization in the coming future.

Already considered as digital gold by investors, the adoption of bitcoin is still low but with such a rising trend where countries like El Salvador are accepting BTC as legal tender, Bitcoin adoption will reach new highs in the coming years, So there is no doubt Bitcoin has all chances to surpass Gold in market cap, (“Slowly But Surely.”)

Read: Coinbase Users Can Borrow $1 Million In Cash Using Bitcoin As Collateral

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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