03/15/2024
Bitcoin’s latest price surge above $71,000 has pushed the cryptocurrency to new heights. It has even solidified its position as a major player in the global financial landscape.
The world’s largest cryptocurrency by market capitalization has now surpassed silver, becoming the eighth largest asset in the world with a market cap of $1.409 trillion, according to data from CompaniesMarketCap.
This milestone comes as BTC’s price continues to climb, reaching $71,688 at press time. The surge represents a 2.8% increase over the past 24 hours.
Bitcoin surpasses silver as the eighth largest asset
The cryptocurrency’s market cap now exceeds that of silver, which stands at $1.381 trillion. According to the latest data, BTC is rapidly closing in on Alphabet, the parent company of Google, which boasts a market cap of $1.688 trillion.
However, Bitcoin still has a long way to go before it can challenge gold, the world’s largest asset by market cap. Gold currently sits at a market cap of $14.66 trillion.
The recent surge in bitcoin’s price and market cap can be attributed, in part, to the successful launch of several spot bitcoin exchange-traded funds (ETFs) over the past few months.