Bitcoin Market Cap Surges Beyond $800 Billion
BITmarkets Team
Dec 05, 2023
The world's largest cryptocurrency, Bitcoin (BTC), is gaining ground on international large-cap stocks and has surpassed American conglomerate Berkshire Hathaway in market value.
On December 4, its market capitalization surpassed $800 billion, having surpassed the company of billionaire investor Warren Buffet on December 3.
With its weekend surge above $40,000, Bitcoin's market capitalization surpassed $780 billion, narrowly surpassing Berkshire Hathaway's $779 billion closing market value on December 1st (based on its class A stock, BRK.A).
Bitcoin is currently the tenth-largest asset by market capitalization, behind Nvidia and Meta Platforms (formerly Facebook), whose market values are currently $1.2 trillion and $834 billion, respectively, according to data from CompaniesMarketCap.
With its market capitalization rising above $800 billion, Bitcoin is currently 38% below its peak price of $69,000, which was set in November 2021.
The current uptrend may result in Bitcoin reaching $1 trillion in market capitalization for the second time in its history. At $53,700 in February 2021, Bitcoin's market capitalization previously surpassed $1 trillion.
Sources:
https://cointelegraph.com/news/btc-market-cap-passes-berkshire-hathaway
