Key Insights
- Bitcoin has rallied to nearly a $1 trillion market cap.
- BTC has overtaken Tesla, Visa, and Warren Buffett’s Berkshire Hathaway to become the 10th largest asset in the world by market cap.
- Bitcoin is about to overtake Meta in market cap.
- Bitcoin has surged 20% over the past month and 150% year-to-date.
- BTC could overtake Nvidia and silver if it breaks above $69,000.
BTC rallied straight up above the $40,000 zone over the last 24 hours, adding a significant boost to the total crypto market cap.
However, our main focus in this section isn’t the market cap of the crypto market as a whole. We are more interested in Bitcoin’s performance, seeing as the flagship cryptocurrency now trades at about $41,500 and is nearly at a $1 trillion market cap.
BTC has now overtaken the likes of Tesla, Visa and even Warren Buffet’s Berkshire Hathaway to become the 10th largest asset in the world by market cap.
A New Era of Digital Assets
As of December 4, Bitcoin’s rally launched its market cap straight up past the $800 billion mark.
According to CompaniesMarketCap, Bitcoin started the year under the likes of Visa and Tesla.
However, according to the snapshot above, BTC has performed so well this year, that it is now ahead of Berkshire Hathaway and is giving Mark Zuckerberg’s Meta a literal run for its money.
Is Bitcoin About To Overtake Meta?
Meta, according to TradingView and Company Market Cap, has a market cap of about $834.76 billion.
Meta, compared to BTC, is also down by about 1% over the last day and has been relatively rangebound since breaking past $276.
Meta appears to have now broken out of this range but is still having some issues with successfully rebounding off $324 after making a new higher high.
BTC, on the other hand, has been largely bullish compared to Meta and has rallied by an impressive 4.6% over the last day, from around $783 billion to where it now sits at around $817.3 Billion.
Bitcoin, in addition, has also surged 20% over the past month and an impressive 150% YTD, according to CoinGecko data. This leads to the question, is BTC going to overtake Meta soon?
Meta vs. Bitcoin
Meta’s market cap sits at $834.76 billion, while that of BTC sits at around $811 billion.
This means that Bitcoin is only about $20 billion short of overtaking Meta., and isn’t a very wide margin by any means.
Coupled with that, the recent growth in BTC now means that it only has about a 38% rally left, to hit its previous all-time high of around $69,000.
If the growth of Bitcoin continues this way, the cryptocurrency will undoubtedly overtake Meta, Nvidia (currently at $1.15 trillion) and even silver (currently at $1.4) if a break above $69,000 occurs.
According to analyst expectations, if we indeed see an average $100,000 BTC price during the next bull cycle, Bitcoin may find itself ranked among the top three asset classes, beating or coming close to beating the likes of Microsoft and Apple.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
