Bitcoin Set to Surpass Meta in Total Value
On February 12, Bitcoin (BTC) surged back to $50,000, pushing its market capitalization to $981.86 billion, placing it once again among the top 10 most valuable assets globally by market capitalization, alongside the stocks of the world's most valuable companies and precious metals.
According to recent reporting by Cointelegraph, Bitcoin returned to the $50,000 mark for the first time since December 2021, with investor enthusiasm surrounding Bitcoin exchange-traded funds and the upcoming halving event contributing significantly to the surge.
Should the current bullish sentiment persist, Bitcoin may continue its ascent up the market capitalization rankings. Its previous peak resulted in a market capitalization of $1.28 trillion, with Bitcoin valued at $67,617.02 per coin.
At the time of writing, BTC holds the 10th position, with Meta (formerly Facebook) leading by approximately $235 billion, boasting a value of $1.214 trillion.
While it's improbable that Bitcoin would bridge this gap in one move, the latest 24-hour trend shows Meta rising by 1.73%, while Bitcoin climbs by 3.22%.
Should Bitcoin surpass Meta, it would then target assets like silver ($1.28 trillion) and companies such as Amazon, Nvidia, and Alphabet (all around $1.8 trillion).
Beyond that, Bitcoin would aim for the $2 trillion club, requiring a valuation of roughly $100,000 per coin to rival behemoths like Saudi Aramco, Microsoft, and Apple.
Once those milestones are achieved, the ultimate challenge for Bitcoin would be gold, symbolizing the Mount Everest of asset values at a total market capitalization of $13.65 trillion.
Meanwhile, Ethereum (ETH) is experiencing a 3.45% increase in value, placing its market capitalization at $313.54 billion, securing the 34th position, ahead of companies like Nestle ($294.8 billion) and Toyota ($307.81 billion).
These are the only cryptocurrencies featured in the top 100 assets.
Some analysts envision a scenario where Ethereum's upward trajectory mirrors Bitcoin's gains, potentially positioning the second-most valuable cryptocurrency to challenge tech giants like Tencent and Samsung, both valued at less than $400 billion.
Sources:
https://cointelegraph.com/news/bitcoin-surpass-meta-total-value-cryptocurrency-climbs
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