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Bitcoin Becomes 12th Largest Asset Globally by Valuation, Surpassing Visa – Market Updates

After the price of Bitcointherefore market capitalization leading digital asset, fell below $26,000 a unit, it’s still up 9.6% since last week. However, its price has fallen by 6.5% in the last 24 hours. Of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds valued at more than $82 trillion, Bitcoin is the 12th largest asset in the world by valuation.

Bitcoin’s Market Cap vs. Other Top Assets: Leading Crypto Climbs Above Visa But Laps Behind Meta

Crypto assets, particularly bitcoin (BTC), have appreciated in value this week following the collapse of three major US banks. In the past 24 hours, Bitcoin (BTC) is down 6.5% against the US dollar. However, weekly metrics show BTC is up 9.6% week-on-week. Most of BTC’s surge came on March 14, when it jumped above the $26,000 zone to exactly $26,533 around 9 a.m. ET on Tuesday. As of 2:35 p.m. on March 15, Bitcoin is exchanging hands at $24,357 per unit.

Bitcoin Becomes 12th Largest Asset Globally by Valuation, Surpassing Visa – Market Updates, Crypto Trading News

Despite declining in value against the US dollar, Bitcoin has become the 12th largest valuation in the world, surpassing the market cap of payments giant Visa. As of Wednesday afternoon, BTC had a market valuation of $469.60 billion, which is $18.31 billion more than Visa’s. However, the crypto asset’s market valuation is still below that of Meta (formerly Facebook), which currently stands at $499.66 billion. For Bitcoin to become the 11th largest asset in the world by valuation, its market cap must increase by $30.06 billion, surpassing that of Meta.

Currently, the top ten investments by market valuation include Gold, Apple, Microsoft, Saudi Aramco, Silver, Alphabet (Google), Amazon, Berkshire Hathaway, Nvidia and Tesla. Gold, the leader of the group, has a market cap of around $12.81 trillion. While BTC accounts for 42.7% of the $1.1 trillion crypto-economy’s value, it accounts for just 3.67% of gold’s overall market valuation. Bitcoin’s market valuation would need to increase by approximately $12.34 trillion to surpass gold’s market cap. However, Bitcoin’s market valuation is currently closer to silver, which is valued at $1.245 trillion as of Wednesday afternoon.

Therefore, Bitcoin’s market cap today is about 37.7% of silver’s market valuation. To surpass silver’s market cap, Bitcoin’s market valuation would need to increase by approximately $775.4 billion. In October 2021, BTC’s market cap crashed into silver’s overall valuation, but at that point, silver’s capitalization was $1.31 trillion. In terms of tech giant Apple’s fortunes, BTC’s market valuation accounts for 19.69% of Apple’s. For Bitcoin to surpass the California tech giant’s net worth, it would need to add another $1.917 trillion to its market valuation.

What do you think of the seven-day market performance of Bitcoin and the crypto asset that has become the 12th largest asset by market cap globally? Do share your thoughts on this topic in the comments section below.

Bitcoin Becomes 12th Largest Asset Globally by Valuation, Surpassing Visa – Market Updates, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.




photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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