Bitcoin's Stellar Journey: Set to Surpass Tech Giants and Commodities, Eyeing Top Market Cap Position
Summary:
2024 has been a prosperous year for Bitcoin with a record price high of $73,679. Predictions indicate Bitcoin's price could rise to approximately $170,574 by April 2025, assuming it maintains its current growth. This would potentially make Bitcoin second on the list of top 100 commodities by capitalization, surpassing major companies like Google, Amazon, Microsoft, and even silver. If Bitcoin continues its growth at this rate, it could even surpass gold by achieving a price of about $800,476 per coin, which would make it the top commodity in terms of market cap.
So far, 2024 has been a stellar year for Bitcoin. It enjoyed a record high of $73,679 on March 13, and has since been hovering around the $70K mark — marking an increase of over 140% from last year. Interestingly, upon reaching its peak this year, Bitcoin momentarily overtook silver to become the world's eighth most valuable commodity in terms of market capitalization. Added to that, if Bitcoin continues its growth at the current pace, by April 2025, it could be worth around $170,574. Such a value would not only surpass silver but even tech giants like Amazon, Alphabet, Saudi Aramco, Google, Nvidia, and Microsoft, positioning Bitcoin at the second spot on the CompaniesMarketcap.com's top 100 commodities by capitalization list.
However, this does hinge on the assumption that Bitcoin continues to grow and the rest of the market remains unchanged. Today's capitalizations can be used as reference markers to predict potential future growth trajectories for Bitcoin. For instance, if silver's market cap stays at its present value of $1.412 trillion, Bitcoin's market cap would need to reach $1.413 trillion. This would necessitate an increase in Bitcoin's price from its current $69,678 to $71,732, elevating Bitcoin to eighth place.
Search engine behemoth Google, which is currently valued at $1.885 trillion, could also be surpassed by Bitcoin. If Bitcoin's price climbs to approximately $95,642, it could exceed Google's market cap and secure the sixth position on the list, right below Saudi Aramco.
To dislodge Nvidia and Apple from the fourth and third spots, Bitcoin's total market cap would need to hit around $2.65 trillion. For the second place, currently held by Microsoft with a market cap of $3.126 trillion, Bitcoin would need to reach approximately $165,608 per coin.
These projections might seem ambitious considering Bitcoin's current price hovers around $70K. But it's worth noting that Bitcoin's value soared by approximately 144.82% between April 2023 and March 2024. Furthermore, if this growth rate sustains over the next year, Bitcoin's value could reach approximately $170,574, giving it a market cap of $3.224 trillion, enough to supersede Microsoft.
Lastly, to claim the top spot, presently held by gold with a market cap of $15.141 trillion, Bitcoin's price would need to skyrocket to approximately $800,476 per coin. This would push Bitcoin's market cap to $15.15 trillion, promoting Bitcoin to being the top commodity on the market cap leaderboard.
Published At
3/29/2024 9:15:00 PM
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