Bitcoin's market cap surpasses silver, becomes eighth most valuable asset
Bitcoin continued its record-breaking rally on Tuesday, boosted by a flood of cash into new spot bitcoin exchange-traded funds as well as hopes that the Federal Reserve will soon cut interest rates.
Simultaneously, its market capitalisation has reached $1.414 trillion, surpassing that of silver to become the eighth most valuable asset in the world.
On March 12, the largest cryptocurrency by value reached an all-time high of over $72,850, and as of 4:34 p.m. IST, it was trading at $72,160.
«The market capitalization of BTC has now reached $1.414 trillion, exceeding that of silver, which stands at $1.38 trillion. This positive momentum is attributed to the increasing interest in Bitcoin spot ETFs and the impending Bitcoin halving event,» said Edul Patel, CEO of Mudrex.
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View Details»Bitcoin had already exceeded the market cap of Meta, now valued at $1.23 trillion. The next target in Bitcoin's ascent is Alphabet, the parent company of Google, currently valued at just below $1.72 trillion. Bitcoin enthusiasts are also eyeing gold, the world's most
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