Bitcoin Surges Back to $50K, Re-enters Top 10 Valued Assets Globally
Summary:
Bitcoin (BTC) once again hit the $50K mark on February 12, leading to a market cap of $981.86 billion and a return to the top 10 most valued assets globally. Investor enthusiasm over Bitcoin exchange-traded funds and the upcoming 'halvening' is thought to fuel this resurgence in value. Bitcoin now targets silver, Amazon, Nvidia, and Alphabet after likely surpassing Meta. Meanwhile, Ethereum (ETH) has also experienced growth, setting sights on tech giants like Tencent and Samsung. The report emphasizes the importance of individual research in investment and trading decisions.
On February 12, Bitcoin (BTC) once again breached the $50K mark, resulting in a market capitalization of $981.86 billion. This surge placed Bitcoin back in the top 10 list of most valued assets globally, as compared to the stocks of the biggest corporations and precious metals. As highlighted recently by Cointelegraph, the resurgence in Bitcoin's value to $50K, a position it hadn't attained since December 2021, can be attributed to growing enthusiasm from investors. This excitement comes from the potential of Bitcoin exchange-traded funds and the impending 'halvening.' If this buoyant sentiment persists, Bitcoin's market capitalization could further ascend. Bitcoin's prior peak led to a market cap of $1.28 trillion, which equated to $67,617.02 per individual Bitcoin. Presently, Bitcoin occupies the 10th rank with Meta, formerly known as Facebook, just ahead by approximately $235 billion at a valuation of $1.214 trillion. Though it seems improbable for Bitcoin to bridge this gap in one swift move, current 24-hour trends reveal Meta growing by 1.73% and Bitcoin by 3.22%. If Bitcoin ends up overtaking Meta, it will then face the likes of silver ($1.28T), Amazon, Nvidia, and Alphabet (each approximately $1.8T). Post these hurdles, Bitcoin would enter the $2 trillion club, wherein it would have to reach around $100k per Bitcoin to even think about competing against Saudi Aramco, Microsoft, and Apple. At $13.65 trillion in total market capitalization, gold remains the ultimate challenge for Bitcoin to conquer. At the press time of this report, Ethereum (ETH) has climbed 3.45%. With a current market cap at $313.54 billion, it comfortably occupies the 34th spot, outdoing Nestle ($294.8B) and Toyota ($307.81B).
Furthermore, experts speculate that Ethereum might make significant strides alongside Bitcoin, which might place this second most valuable cryptocurrency in a position to compete against giant technology companies, with Tencent and Samsung both having valuations under $400 billion. It should be noted that this article doesn't provide investment advice or recommendations, and every move in trading and investing entails risk. Readers are urged to carry out their own research prior to taking decisions.
Published At
2/12/2024 10:23:59 PM
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