Bitcoin surpasses silver to rank as the eighth most valuable property globally as it advances in the rankings of the most valuable assets by market capitalization.
Bitcoin’s (BTC) valuation surged to $1.42T, surpassing that of Sliver at $1.387T, with a 4% increase to an all-time high beyond $72,000 during the early hours of U.S. trade.
Earlier in this extraordinary bull run, the market capitalization of Meta (formerly Facebook), which is currently $1.2 trillion, was surpassed by the value of Bitcoin.
The next target for Bitcoin is Alphabet, the parent company of Google, which is currently valued at just under $1.7 trillion, making it the sixth most valuable asset in the world.
Some bitcoin bulls are aiming for gold, which has a $14.7 trillion market capitalization and is the most precious asset in the world. Bitcoin would need to increase by more than ten times, or above $720,000 per token, to get there.
“The positive momentum of BTC Spot ETFs continues to fuel the robust price action,” stated Matteo Greco, a research analyst at Fineqia Capital, in a morning note.
Up to that moment, the London Stock Exchange made the decision on Monday to accept applications for exchange-traded notes (ETNs) for ether and bitcoin.
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