Bitcoin, the leading cryptocurrency, has become the ninth-biggest asset globally, according to the most recent data.
Earlier today, Bitcoin managed to surge above the $75,000 level, reaching a new lifetime high of $75,358 on CoinGecko.
It has now surpassed tech giant Meta in terms of market capitalization following its recent price spike. They are worth $1.467 trillion and $1.445 trillion, respectively.
This is far from the first time that Bitcoin has surpassed Facebook's parent company. As reported by U.Today, it also managed to achieve this fear back in March when the cryptocurrency was in the middle of a strong rally due to the success of Bitcoin ETFs.
Alex DovbnyaMeta's shares are up by 65% on a year-to-date basis. Last month, the company reported a big Q3 earnings beat. The stellar performance was partially attributed to the company's artificial intelligence endeavors with the Meta AI product. However, monetizing is not a priority for the company when it comes to this red-hot sector.
For comparison, Bitcoin has surged by more than 75% over the same period of time.
Now that the largest cryptocurrency has surpassed Meta, it would need to add roughly $300 billion to its market capitalization in order to surpass Saudi Arabia's state-owned energy giant Saudi Aramco.
Silver is also within Bitcoin's reach, with the cap of the precious metal standing at $1.78 trillion. Spot silver is currently trading at $30.98 per ounce after experiencing a 5% drop.
Gold is the biggest asset with a market cap of $18.1 trillion. As reported by U.Today, analyst Eric Balchunas recently predicted that Bitcoin ETFs might end up tripling gold ETFs due to the fact that the yellow metal is too boring for investors.
Nvidia and Apple are the two biggest companies by market cap ($3.4 trillion and $3.38 trillion, respectively).
Gamza Khanzadaev
Tomiwabold Olajide
U.Today Editorial Team
Vladislav Sopov
Dan Burgin