With a market capitalization of nearly $ 780 billion, Bitcoin is currently worth half of all the silver ever mined. Bitcoin has also overtaken tech giants Facebook, Tencent and Alibaba in terms of market capitalization, as has Warren Buffett’s Berkshire Hathaway, according to Infinite Market Cap data.
Facebook, Tencent, Alibaba dethroned from Bitcoin’s rally
Bitcoin’s recent rally drove its price above $ 40,000 and helped it hit its all-time high. However, with most of the world now focused on rising prices, Bitcoin’s rising market cap has largely gone unnoticed.
With a market capitalization of $ 779.85 billion, Bitcoin is the ninth largest asset in the world. The world’s largest cryptocurrency has overtaken Facebook, whose market cap of $ 755 billion makes it the 10th largest asset and the 6th largest tech company in the world.
Chinese tech company Tencent is also among Bitcoin with a market cap of just over $ 706 billion, while global e-commerce giant Alibaba ranks 12th with a market cap of $ 629.33 billion.
Bitcoin has also outperformed Berkshire Hathaway, the world’s largest holding and investment company, founded by billionaire investor Warren Buffett. According to data from Infinite Market Cap, Berkshire Hathaway is the 13th largest investment company in the world with a market capitalization of $ 547 billion.
Bitcoin’s market capitalization is half of all silver in existence.
And while it will take many more bull runs to push Bitcoin past gold, its growing market cap becomes even more impressive when you compare it to commodities like silver.
At its current market capitalization, Bitcoin is worth half of all silver in the world. According to the Infinite Market Cap, 1.7 million tons of silver have been mined so far – at a price of around $ 26 each, this translates into a market capitalization of around $ 1.43 trillion.
Even if you take into account the fact that the market capitalization calculation doesn’t take into account the amount of silver that has been lost or destroyed, or the number of bitcoins that have gone forever, the data only further solidifies Bitcoin’s position in the market.
It also means that once its price reaches $ 80,000, Bitcoin will be larger than silver’s current market cap.
Post source: Unstoppable: Bitcoin is now worth half the total silver in the world
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from The Bitcoin News – Bitcoin and Blockchain News https://thebitcoinnews.com/unstoppable-bitcoin-is-now-worth-half-the-total-silver-in-the-world/
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