Despite the turbulent week following the collapse of Silicon Valley Bank (SVB) and Signature Bank, the market cap for Bitcoin has managed to rank higher than tech giant, Meta with Tesla sitting behind in the row.
As on March 14, 2023, Bitcoin’s market cap had reached $471.86 billion, surpassing Meta’s market capitalization of $469 billion. Thus, in just 24 hours Bitcoin’s market cap rose beyond 9.7% allowing the cryptocurrency (BTC) to sit at 11th position in the category of top assets by market capitalization.
It was only 24 hours before this jump that BTC’s market capitalization stood at nearly around $ 37 Billion while Meta’s market cap was at a whopping $433.49 Billion. The analysis was drawn from the data from Companies Market Cap that provides real–time monitoring and ranking for market caps of cryptocurrencies, precious metals, exchange-traded funds, and public companies.
Reportedly, BTC has also flipped the market cap of payment giant Visa third time in a row putting itself ahead of the payment company. The gap between BTC and Visa market cap is approximately more than $20 Billion which is still in huge difference from that of gold. Gold still sits at the first position with a market cap of $12.59 trillion while Apple secures second place with $2.380 trillion of market capitalization.
Thus, the gap between the market capitalization of the popular cryptocurrency Bitcoin (BTC) and payment giant, Visa seems to continue to widen. However, the addition of Meta to the list of assets or companies that the BTC market cap has surpassed is an indication that the Bitcoin ecosystem can be seen to behave interestingly in the coming days.
