Bitcoin is now the world’s eighth most valuable asset, with a market cap of $1.31 trillion
At 1:30 a.m. (EST) on Friday morning, the price of bitcoin has crossed the $60K mark. Bitcoin’s entire market value of $1.119 trillion has now exceeded that of Facebook as a result of the top crypto asset’s recent price increase. Bitcoin is also on its approach to surpassing the total value of all silver in the world, with the digital currency only 17.3 percent away from surpassing the precious metal’s whole valuation.
BTC surpasses Facebook’s whole value, but it still has to gain more than 17.33% to surpass silver
Bitcoin is presently the world’s ninth most valuable asset, barely ahead of the market capitalization of the corporation Facebook. According to data from the website companiesmarketcap.com, Bitcoin has a market capitalization of $1.119 trillion, whereas Facebook has a market capitalization of $926.27 billion. It’s not the first time bitcoin (BTC) has outperformed Facebook in terms of total value; according to Bitcoin.com News, BTC outperformed Facebook during the first week of January this year.
The next item BTC must exceed is silver (Ag), which is now valued at $1.313 trillion. To get over the total net worth of the world silver supply, BTC’s $1.119 trillion valuations must rise 17.33 percent. Aside from silver and gold (Au), BTC is trailed by Apple, Microsoft, Saudi Aramco, Alphabet (Google), and Amazon. BTC has a long way to go to catch up to gold, the most valuable precious metal since it has to gain more than 905 percent simply to outperform gold’s worldwide value.
To beat Apple, BTC must gain 112 percent – If Bitcoin beats Apple, Satoshi would become the world’s wealthiest person
To overtake Apple (AAPL), the second most valued global asset, the leading crypto-asset needs rise more than 112.3 percent. BTC would be the world’s second most valuable asset at that moment. BTC would have to be valued at $125,257 per unit to overtake AAPL in terms of overall market capitalization. Of course, the $125K estimate is based on the current amount of BTC in circulation; by then, additional bitcoins will have been created, lowering the $125K estimate.
To outperform gold, each bitcoin would have to be worth $619,500, based on the current circulating quantity of 18,844,512 BTC. Another fascinating fact is that if Bitcoin ever outperforms Apple and approaches the entire market value of gold, Bitcoin’s unknown creator will become the world’s richest person (or group).