Businessnewshubb
Advertisement
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
Businessnewshubb
No Result
View All Result
Home Markets

Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa – Market Updates Bitcoin News

March 15, 2023


After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value, bitcoin is the 12th largest asset worldwide by valuation.

Bitcoin’s Market Capitalization Compared to Other Top Assets: Leading Crypto Climbs Above Visa, But Lags Behind Meta

Crypto assets, specifically bitcoin (BTC), have increased in value this week following the collapse of three major U.S. banks. Over the past 24 hours, bitcoin (BTC) has dropped 6.5% against the U.S. dollar. However, weekly metrics indicate that BTC is up 9.6% week over week. Most of BTC’s increase occurred on March 14, when it jumped above the $26K zone to precisely $26,533 at around 9 a.m. (ET) on Tuesday. As of 2:35 p.m. on March 15, bitcoin is exchanging hands for $24,357 per unit.

Despite the decrease in value against the U.S. dollar, bitcoin has become the 12th largest valuation in the world, surpassing the market capitalization of payments giant Visa. On Wednesday afternoon, BTC had a market valuation of $469.60 billion, which is $18.31 billion more than Visa’s. However, the crypto asset’s market valuation is still below that of Meta (formerly Facebook), which is currently at $499.66 billion. For bitcoin to become the 11th largest asset by valuation in the world, its market capitalization needs to increase by $30.06 billion, surpassing that of Meta.

Currently, the top ten assets by market valuation include gold, Apple, Microsoft, Saudi Aramco, silver, Alphabet (Google), Amazon, Berkshire Hathaway, Nvidia, and Tesla. Gold, the leader of the group, has a market capitalization of around $12.81 trillion. While BTC represents 42.7% of the crypto economy’s $1.1 trillion in value, it only accounts for 3.67% of gold’s overall market valuation. Bitcoin’s market valuation would need to increase by approximately $12.34 trillion to surpass gold’s market capitalization. However, bitcoin’s market valuation is currently closer to silver, which is valued at $1.245 trillion as of Wednesday afternoon.

Therefore, as of today, bitcoin’s market capitalization is approximately 37.7% of silver’s market valuation. To surpass silver’s market capitalization, bitcoin’s market valuation would need to increase by approximately $775.4 billion. In October 2021, BTC’s market capitalization ran up against silver’s overall valuation, but at that time, silver’s capitalization was $1.31 trillion. Regarding contending with tech giant Apple’s net worth, BTC’s market valuation accounts for 19.69% of Apple’s. For bitcoin to exceed the California tech giant’s net worth, it would need to increase its market valuation by another $1.917 trillion.

Tags in this story
12th largest, aapl, Alphabet, Alphabet (Google), Amazon, Apple, Assets, Berkshire Hathaway, Bitcoin, Bitcoin (BTC), Bitcoin and Gold, bitcoin silver, BTC, Crypto asset, Crypto Asset Markets, Cryptocurrency, Digital Assets, Facebook, Finance, Global Economy, gold, gold (Au), Google, investment, Market Capitalization, Market Update, Market Valuation, market value, Meta, Microsoft, Nvidia, payment systems, Satoshi Nakamoto, Saudi Aramco, silver, Stock Market, technology, Tesla, trading, U.S banks, USD, valuation, VISA, worldwide assets

What do you think about bitcoin’s seven day market performance and the crypto asset becoming the 12th largest asset by market cap worldwide? Share your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Previous Post

SVB fuelled high-risk, high-reward tech firms. Now health start-ups feel bereft

Next Post

Regulators force Silicon Valley Bank Canada into liquidation, paving way for auction

Next Post

Regulators force Silicon Valley Bank Canada into liquidation, paving way for auction

Adept, a startup training AI to use existing software and APIs, raises $350M

Silicon Valley Bank collapse: Claim and counterclaim in the US political blame game but what's true?

US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply – Bitcoin News

Building and Running a Strong Family Business with Christine Noh » Succeed As Your Own Boss

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Just 7 days until the TC Early Stage early bird flies away

by admin
March 25, 2023

Budget-minded entrepreneurs and early-stage startup founders take heed — this is no time to procrastinate. We have only 7 days...

Alberta Innovates invests $30 million into Alberta Machine Intelligence Institute to spur research

by admin
March 25, 2023

New funding will attract investment and create jobs, says innovation minister. Alberta Innovates is injecting $30 million into the Alberta...

Weekly Recap – Bitcoin News

by admin
March 25, 2023

Over the past week, statistics show non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum...

Fortra told breached companies their data was safe

by admin
March 24, 2023

Software maker Fortra told its corporate customers that their data was safe — even when it wasn’t — following a...

business-news-hubb-white

© 2022 Business News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Categories

  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

Newsletter Sign Up.

No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

© 2022 Business News Hubb All rights reserved.