Main navigation

Bitcoin (BTC) Surpasses Tencent by Market Capitalization as BTC Price Smashes $51,000. Who's Next?

News
Wed, 02/17/2021 - 15:00
article image
Vladislav Sopov
Yet another corporation is left in the dust amidst massive Bitcoin (BTC) rally. Only five giants and two precious metals can compete with the crypto king
Bitcoin (BTC) Surpasses Tencent by Market Capitalization as BTC Price Smashes $51,000. Who's Next?
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Today, Bitcoin (BTC) printed a new all-time high at $51,678 on major spot exchanges. At this level, its market capitalization reaches, yet again, an ambitious milestone on its road to the mesmerizing $1 trillion mark.

Bitcoin (BTC) shows no mercy to giants

At its current price over $51,000, there are only five corporations the king coin gives way to. Namely, they are public Saudi Arabian petroleum and gas mogul, Saudi Aramco, and American digital giants Google, Amazon, Microsoft and Apple.

Bitcoin (BTC) surpasses Tencent by market cap
Image via Twitter

Also, the two main precious metals, Gold and Silver, are still more valuable than Bitcoin (BTC).

Thus, according to Bloqport analytical service, Bitcoin (BTC) has broken above Tencent, a Chinese technology conglomerate. Tencent owns instant messengers QQ and WeChat, dozens of multimedia distribution platforms, gaming services and one of the world's largest web portals, QQ.com.

In 2018, Tencent became the first Asian corporation to reach a valuation of $500 billion. Now, it is valued at $907 billion, while the total market cap of the flagship crypto eyes the $950 billion level.

Whither Google?

In terms of fully diluted market capitalization (the pricing of all 21 million Bitcoins, which is the maximum supply for this blockchain), the "digital gold" has already reached $1 trillion.

Thus, the next target for Bitcoin (BTC) is Google. According to Bloqport, the giant will fall when the Bitcoin (BTC) price surpasses $75,000 per coin.

Related
Bitcoin Surpasses Thai Baht and Russian Ruble, Becoming 14th Biggest Global Currency

Earlier this year, Bitcoin (BTC) began to surpass the national currencies of major countries. As covered by U.Today, its liquid supply is much more expensive than all of the Russian Rubles and Thai Bahts in existence.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)