In a remarkable turn of events, the market valuation of Bitcoin has officially surpassed that of silver in the global ranking of the most valuable assets.
Today, Bitcoin reached a new all-time high of $89,956. At press time, Bitcoin is exhibiting strong momentum to break into the $90K range for the first time. As a result, Bitcoin now boasts an impressive market cap of over $1.77 trillion. Its fully diluted market cap is even more substantial, standing at $1.88 trillion.
This milestone comes as Bitcoin continues its upward trend, which gained significant momentum last week following Donald Trump’s election as president of the United States.
Trump’s victory had a pivotal impact on the crypto market, driven by several promises he made to support and expand the industry under his administration.
Since then, Bitcoin has been setting new all-time highs almost every day, with the current streak lasting for eight consecutive days. As a result, Bitcoin has surpassed silver and become the eighth most prominent asset in the world.
Just two weeks ago, Bitcoin was in tenth place, behind Meta (formerly Facebook), with a market cap of $1.472 trillion. However, Bitcoin has added over $300 billion to its valuation, enabling it to overtake silver and Meta.
Bitcoin Eyes Saudi Aramco, Amazon, and Google
Now, Bitcoin is positioned just behind Saudi Aramco, which has a market cap of $1.804 trillion. Interestingly, Bitcoin could overtake Saudi Aramco if it breaks into the $91K price range, which is within reach, as Bitcoin is currently trading at $89,272 at press time.
Should Bitcoin surpass Saudi Aramco, its next targets would be Amazon ($2.174 trillion) and Google ($2.216 trillion). If Bitcoin continues its momentum and rises above $113,000 per coin, it could surpass both companies.
Can Bitcoin Surpass Gold?
With Bitcoin now surpassing silver, prominent market commentators are suggesting that Bitcoin’s next major target is gold. Gold currently holds a market cap of $17.514 trillion—nearly ten times Bitcoin’s current valuation.
To overtake gold and become the world’s most valuable asset, Bitcoin’s price would need to approach $1 million per coin.
While industry experts are unanimous in stating that it could take several years for Bitcoin to reach this lofty goal, some, like former Twitter CEO Jack Dorsey, have suggested that it could happen before the end of this decade.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
