As a seasoned crypto investor with a knack for spotting trends, I must admit that the recent surge of Bitcoin to overtake Saudi Aramco and other traditional market giants has left me rather impressed. My journey into the world of cryptocurrencies began during the early days of Bitcoin, when it was still considered an obscure digital asset. To see it now surpassing some of the world’s most powerful companies is nothing short of astonishing.
On November 13th, when Bitcoin reached a value of over $92,000, it surpassed the market capitalization of Saudi Aramco, the major oil company. In simpler terms, at that moment in time, Bitcoin’s total value was greater than that of Saudi Aramco.
When Bitcoin (BTC) soared to $93,000, its total value in the market reached an impressive $1.83 trillion. As per CompaniesMarketCap data, this significant achievement has propelled BTC beyond the market capitalization of Saudi Arabia’s oil giant, which stood at $1.79 trillion at the time of reporting.
If the positive trend in the cryptocurrency market continues, Bitcoin’s market value could potentially reach the $2.2 trillion market cap of Alphabet (Google). Since Donald Trump became the U.S. president, Bitcoin has experienced significant growth, surpassing established companies like Berkshire Hathaway, Tesla, Meta Platforms, and Silver in value.
Bitcoin recently outpaced silver in terms of value, with silver currently holding the ninth spot among assets ranked by market capitalization, at approximately $1.73 trillion.
Bitcoin bulls in charge
Bitcoin (BTC) has further solidified its position as the globe’s leading and largest cryptocurrency due to a remarkable 25% surge over the last week. Initially trading at approximately $69,000 on November 5th, Bitcoin has repeatedly reached new peaks, fueled by enthusiasm surrounding Donald Trump’s election victory.
On November 13th, the primary cryptocurrency surpassed $93,477, causing analysts to speculate that it could reach $100,000. Interestingly, Trump’s election and the possibility of a pro-crypto stance indicate this bullish trend might just be getting started.
The surge in demand for bitcoin ETFs, particularly in markets where BlackRock’s IBIT is experiencing unusually high influxes and trading activity, reinforces this positive outlook.
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2024-11-13 20:06