Bloomberg's top strategist, Mike McGlone, believes that now that Bitcoin has recaptured its one-trillion-USD market cap, it has a good chance of overtaking Amazon by this metric.
Bitcoin retakes its $1 trillion cap, Tesla left behind, is Amazon next?
Earlier today, the flagship cryptocurrency, Bitcoin, got back above the $1 trillion level by market capitalization value.
At press time, it amounts to $1,003,946,403,682, as per data from CoinMarketCap.
Mike McGlone has tweeted that Bitcoin is now ahead of Tesla by this fundamental metric. Elon Musk's top-tier car production company is in spot 14 with a $540.39 billion cap value.
Bitcoin is in eighth place. The next two assets it has to overtake before surpassing Amazon are Google's Alphabet and silver.
BTC needs $80,000 to surpass Amazon: Mike McGlone
McGlone has shared a chart that shows that once Bitcoin rises to the $80,000 level, it has good chances of overtaking Jeff Bezos' brainchild by market capitalization.
Yuri Molchan"Bitcoin is pushing gold aside as a store of value"
As covered by U.Today on Monday, McGlone stated in his tweet that Bitcoin is pushing gold out of its way as a store of value at a rising pace, and BTC is quickly replacing gold in investors' portfolios.
He tweeted that, since 2017, investors have started to prefer digital gold to the traditional one, although the latter will still be used in jewelry and coin collections.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin