After falling below $26,000 per unit, the price of bitcoin, the leading digital asset by market cap, remains up 9.6 percent since last week. However, its price has declined 6.5% over the past 24 hours.Of the 7,316 companies, crypto assets, precious metals, and listed funds worth more than $82 trillion, bitcoin is the 12th largest asset worldwide by valuation.
Bitcoin’s market capitalization compared to other top assets. Major crypto outperforms Visa, but lags Meta
crypto assets, specificallybitcoin (BTC)has gained in value this week following the collapse of three major U.S. banks. Over the past 24 hours,Bitcoin (BTC)has fallen 6.5% against the USD. However,on the weekly index, BTCis up 9.6% week-over-week; most ofBTC’s rise occurred on March 14, jumping over the $26K zone around 9 a.m. ET on Tuesday to $26,533 to be exact; as of 2:35 p.m. ET on March 15, bitcoin was trading at $24,357 per unit.
Despite a drop in value against the U.S. dollar,Bitcoinsurpassed the market cap of payments giant Visa to become the 12th most valued coin in the world. On Wednesday afternoon,BTChad a market valuation of $469.6 billion, which is $18.31 billion higher than Visa. However, the crypto asset’s market valuation is still below Meta (formerly Facebook), which currently stands at $499.66 billion. For Bitcoin to become the 11th most valued asset in the world, its market capitalization would need to increase by $30.06 billion to surpass Meta.
Currently, the top 10 assets in terms of market valuation include gold, Apple, Microsoft, Saudi Aramco, silver, Alphabet (Google), Amazon, Berkshire Hathaway, Nvidia, and Tesla. Goldled the way, with a market capitalization of approximately 12.81 trillion. Meanwhile,BTCrepresents 42.7% of the crypto economy’s $1.1 trillion value, but only 3.67% of gold’s overall market capitalization. To surpass gold’s market capitalization, bitcoin’s market valuation would need to increase by about $12.34 trillion. However, bitcoin’s market valuation is currently near $1.245 trillion silver as of Wednesday afternoon.
Thus, as of today, bitcoin’s market cap is about 37.7% of silver’s market cap. To surpass silver’s market capitalization, bitcoin’s market capitalization would need to increase by about $775.4 billion; in October 2021,BTCcompeted with silver’s market capitalization, which at that time was $1.31 trillion.about competing with the high-tech giant Apple’s net worth.BTChas a market valuation of 19.69% of Apple’s.