Originally published on: November 14, 2024
Bitcoin is making headlines again as its market capitalization approaches $2 trillion, putting it in close competition with tech giants like Google. With Bitcoin trading steadily above $90,000, it has surpassed the market cap of Saudi Aramco, the world’s largest oil producer, and is now positioned as the seventh-largest asset globally.
According to data from CoinMarketCap and CompaniesMarketCap, Bitcoin reached a market cap of $1.81 trillion on Nov. 14, marking a historic milestone for the cryptocurrency. Surpassing silver and climbing the ranks to become one of the top eight assets, Bitcoin’s market price surged to over $91,000, overshadowing even Saudi Aramco’s market cap.
The entire cryptocurrency market capitalization currently stands at $3.02 trillion, placing it as the eighth-largest in terms of GDP, following countries like the US, China, and Germany. Bitcoin is closely trailing Alphabet, the parent company of Google, with a market cap of nearly $2.2 trillion.
While Bitcoin has a long way to go to surpass assets like gold, Nvidia, Apple, Microsoft, and Amazon, which have market capitalizations in the trillions, its growing prominence in the financial landscape is undeniable. As Ethereum also continues to rise in market capitalization, surpassing companies like Netflix and Johnson & Johnson, the world of cryptocurrency is demonstrating its staying power in the global economy.
