- Bitcoin has risen to become the world’s 10th largest asset, surpassing giants like Tesla and Visa in market capitalization.
- This milestone underscores Bitcoin’s growing significance in the financial landscape, with bullish predictions and positive sentiment driving further attention and investment.
Leading cryptocurrency by market capitalization Bitcoin has demonstrated its position in the financial market by moving up the ladder to become one of the top assets in the world.
Bitcoin Market Cap Inks Close to $1T
According to a comprehensive ranking of all assets, including public companies, precious metals, cryptocurrencies, and ETFs, Bitcoin emerged as the 10th largest asset, preceding Elon Musk-owned Tesla, payments giant Visa, and banking behemoth JPMorgan. Bitcoin hit this milestone with a market capitalization of almost $1 trillion and a price of $48,179 per coin.
Also read: Bitcoin’s Million-Dollar Dream: NYCB Crisis Reignites Speculation for BTC
The next cryptocurrency in the ranking is Ethereum, which currently holds the 36th position out of 100.
Gold sits at the top of the list with a market capitalization of $13.6 trillion, followed closely by silver and several top tech companies like Microsoft, Apple, and Amazon.
Positive Sentiment and Lofty Predictions
In recent days, Bitcoin has been exhibiting positive sentiment suggestive of a potential bull run. Market observers and analysts are optimistic about the possibility of the coin hitting a new high in this ongoing rally.
CryptoQuant CEO Ki Young Ju expressed his bullish stance regarding Bitcoin’s price, predicting a 160% increase for the coin, with a target of $112,000 or a low of at least $55,000 this year. Young Ju’s sentiment is driven by the significant inflows that the spot Bitcoin ETF market has seen in the last month, totaling up to $9.5 billion.
Renowned crypto analyst Stockmoney Lizards suggested that Bitcoin may have found its new floor price at $40,000, drawing conclusions from patterns he studied, including the Bitcoin halving event. Lizards noted that Bitcoin halving historically precedes a bull run. With the next halving event scheduled for April, investors may anticipate the future outlook of Bitcoin after this event.
Bitcoin’s rise to become the world’s 10th largest asset underscores its growing significance in the global financial landscape. With positive sentiment and bullish predictions from analysts, the cryptocurrency market continues to attract attention from investors worldwide. As Bitcoin surpasses traditional giants like Tesla and Visa, its position as a leading asset is solidified, paving the way for further growth and adoption in the years to come.
