Bitcoin has achieved a remarkable feat by becoming one of the seven most valuable traded assets in the world, surpassing even financial giant Berkshire Hathaway, technology giant Meta and electric car maker Tesla.
Charlie Munger, the late vice-president of Berkshire Hathaway, and its CEO, Warren Buffett, had been harshly critical of Bitcoin in the past, calling it “rat poison” and “useless”. However, Bitcoin has proven its worth in financial markets over time.
Michael Saylor: Bitcoin is the ‘Apex Commodity’ Outperforming Traditional Assets
The cryptocurrency market is recovering, and many are optimistic about the future of Bitcoin
After several weeks of consistent gains, Bitcoin now ranks seventh among the world’s most valuable traded assets, according to market capitalization data from CoinGecko. Currently, Bitcoin is valued at US$43,910, with a market capitalization of US$859 billion, surpassing Meta, which is worth US$820.7 billion, and Tesla, with US$771.5 billion. Berkshire Hathaway, meanwhile, fell to a valuation of $767.6 billion.
Bitcoin’s next market cap target is AI chipmaker Nvidia, which has doubled in value this year. However, to surpass Nvidia’s $1.153 trillion valuation, Bitcoin would need to rise from its current price. From $43,910 it should go to over $58,939. To become the most valuable traded asset in the world, surpassing technology giant Apple, which is worth US$3 trillion, Bitcoin would need to surpass US$153,000.
Bitcoin’s recent rise is attributed in part to rumors of the imminent approval of a spot Bitcoin ETF. Many in the cryptocurrency market are optimistic that this positive trend will continue. Thus, marking the end of crypto winter and ushering in a boom for digital assets.
Coinbase Announces New Feature to Make Global Money Transfers Easier
Its recent rise is linked to rumors about the approval of a spot Bitcoin ETF
British multinational bank Standard Chartered predicts that Bitcoin could reach $100,000 next year. This only adds to the excitement around cryptocurrency.
Furthermore, the recovery in the health of the crypto ecosystem is evident, with some meme coins receiving large capital inflows. However, it is important to note that volatility is still a significant feature of the cryptocurrency market.
Bitcoin continues to defy critics and skeptics, cementing its place as a legitimate and valuable asset class in global financial markets.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/bitcoin-supera-berkshire-hathaway-tesla-e-meta-em-valor-de-mercado/
