As bitcoin continues to advance in market appreciation, it rises through the ranks in the global asset rankings. When it surpassed the price of USD 50,000 for the first time this Monday, February 16, the first cryptocurrency was placed above the market capitalization of the Chinese conglomerate Tencent, owner of WeChat, the first social network in China.
Although the price of bitcoin fluctuated below USD 50,000 this Monday, after a new historical maximum was established, this Tuesday the price did mark a clear upward break and managed to exceed USD 51,000.
That rally allowed bitcoin to outrun Tencent’s $ 930 billion market capitalization and surpass $ 951 billion in capitalization, at the time of writing.
In the table below, which ranks global companies and assets by market capitalization, bitcoin is seen in eighth place, below Alphabet (Google).
Bitcoin needs a 5.11% rally to surpass the $ 1 trillion market capitalization. Source: companiesmarketcap.com
Bitcoin has traveled two-thirds of the way that would lead it to surpass Google, although it is quite close to another very significant milestone: reaching and exceeding one trillion dollars in capitalization.
A 5.11% rally would be enough for the price of BTC to reach USD 53,700 and the entry of bitcoin in the exclusive club of the billionaires in capitalization can be consolidated: gold and silver, along with Apple, Saudi Aramco, Microsoft, Amazon and Google.
CriptoNoticias reviewed last Thursday, February 12, that the significant advance in the prices of BTC and ETH brought the combined market capitalization of the top two cryptocurrencies to exceed $ 1 trillion.
BTC and ETH already outperformed the top five US banks combined, the world’s 10 largest banks outside the US and China, and all public companies except Apple, Microsoft, Amazon and Google. This same milestone will be reached only by Bitcoin, once its capitalization reaches USD 1.1 trillion.