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Bitcoin Now Matches Tesla by Market Cap, Flippening in Sight

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Thu, 7/01/2021 - 14:00
Bitcoin Now Matches Tesla by Market Cap, Flippening in Sight
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According to companiesmarketcap, Bitcoin now has a market cap value equal to that of Tesla: $716 billion.

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Bitcoin holds 11th place so far, but it looks like it is about to overcome Tesla and enter the top 10 assets listed by market capitalization.

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Image via companiesmarketcap

Bitcoin has been quickly rallying both in terms of price and market cap, correspondingly breaking above the $700 billion level earlier today.

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Earlier, Bitcoin hater Peter Schiff referred to Tesla and Bitcoin as gambling tools. He stated that these assets showed immense growth in 2020: Bitcoin surged almost 4x and Tesla rose 7x, while his beloved assetgolddemonstrated a "modest 24 percent rise."

Earlier today, the flagship cryptocurrency broke above the $38,000 level, reaching another all-time high. The previous one was taken on Jan. 6 as Bitcoin broke through $36,000.

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