Bitcoin Soars to Become 11th Largest Global Asset, Nearing Berkshire Hathaway’s Valuation

CRYPTO_NEWS BTC

The value of bitcoin (BTC) climbed over 38% against the U.S. dollar in the past six months, registering a 125% increase year-to-date. 

 

Riding high at a peak not seen in 18 months, bitcoin’s market capitalization has ascended to become the eleventh-largest among global assets. This ranking includes an array of assets such as precious metals, exchange-traded funds (ETFs), and corporate valuations. 

 

Bitcoin’s Market Cap Hits 11th Worldwide Bitcoin has experienced substantial growth throughout 2023, with its price increasing by 6.5% in the past week alone. Currently, BTC boasts a market valuation of approximately $726.95 billion, with trading prices hovering just above the $37,000 mark. *

 

As the leading cryptocurrency in market capitalization, BTC commands a 49% share of the $1.4 trillion crypto economy. As of Friday, November 10, BTC holds the eleventh position among the largest global assets by market valuation. The digital currency is just above Tesla’s market cap which stands at $667.50 billion, however, it is also below Berkshire Hathaway’s valuation of $757.56 billion. 

 

Another $31 billion added to BTC’s market cap would push it over the valuation of Berkshire Hathaway. BTC’s market cap is also above assets like Visa, TSMC, Walmart, and JPMorgan Chase. The other nine assets above both Berkshire and BTC include Meta, Nvidia, Silver, Amazon, Google, Saudi Aramco, Microsoft, Apple, and Gold. Gold’s market cap of $12.876 trillion is approximately 17.72 times bigger than bitcoin’s market cap. 

 

Apple’s market cap of $2.836 trillion is approximately 3.9 times bigger than bitcoin’s valuation. To match gold’s market cap of $12.876 trillion, a single bitcoin (BTC) would need to be priced at approximately $659,016 per coin. This would represent a percentage gain of about 1,681.13% from its current price of just above $37,000. 

 

In order to reach Apple’s market cap of $2.836 trillion and take the second position, a single bitcoin would have to be valued at approximately $145,151. This would result in a percentage gain of about 292.30% from the current price of $37,000. With a $250 billion market cap, the second-largest crypto asset by valuation, ethereum (ETH), is the 38th in terms of its position among global assets. Ether’s market cap is just above Costco’s and just below Toyota’s market valuation on Friday. 

 

Source : Bitcoin News by Jamie Redman / November 10, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.