Bitcoin’s market cap now exceeds that of major companies like Meta Platforms ($1.472 trillion), Tesla ($1.123 trillion), and even Warren Buffett’s Berkshire Hathaway ($1.007 trillion).
Gold remains the top asset with a market value of $17.6 trillion, followed by Nvidia, Apple, Microsoft, and Alphabet (Google) in the top five positions.
Bitcoin’s recent surge is largely attributed to hopes that Trump’s victory could lead to a more crypto-friendly US government. There are reports that Trump is considering appointing pro-crypto figures, such as Mark Uyeda and Paul Atkins, to replace SEC Chairman Gary Gensler. This change could help reduce regulatory pressures on the cryptocurrency market.
I will fire Gary Gensler and appoint a new SEC chairman who believes America should build the future, not block the future.
— AltCoiners.live (@alt_coiners) November 8, 2024
- Donald Trump#DonaldTrump #USElection2024 #USAElections2024 pic.twitter.com/oCIEV17Day
Since Trump’s election win, Bitcoin has performed exceptionally well, rising to $89,604 and gaining nearly 30 per cent since November 5.
The rally has also been supported by MicroStrategy Inc., a software company with a long history of Bitcoin investments. MicroStrategy recently purchased 27,200 Bitcoin for $2.03 billion, marking its largest purchase since the company began investing in Bitcoin over four years ago. This purchase, which occurred between October 31 and November 10, is its biggest acquisition since December 2020.
With Bitcoin now just $11,000 away from reaching the $100,000 mark, experts believe it could break this psychological barrier by the end of the year. Alankar Saxena, Co-founder of Mudrex, stated, “Bitcoin has gained enough momentum to potentially hit $100,000 within this year.”
Bitcoin has now surpassed silver to become the 8th largest asset globally, with its market capitalization climbing to $1.752 trillion, just ahead of silver’s $1.726 trillion. The cryptocurrency's price surged 9 per cent to reach $88,570 in just 24 hours, fueled by optimism around Donald Trump’s victory in the US presidential election.
Bitcoin has made a major leap, surpassing silver to become the 8th largest asset in the world. With a market capitalization of $1.752 trillion, it now edges out silver, which stands at $1.726 trillion. The cryptocurrency surged by 9 per cent in the last 24 hours, reaching $88,570. This boost has been fueled by optimism surrounding Donald Trump’s victory in the US presidential election and expectations that his administration will be more favorable to crypto.
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Author:
Ritik Sharma
