The world’s first-ever decentralized digital currency Bitcoin (BTC) has registered a significant milestone by entering into the list of the top 20 assets in the world in terms of market capitalization. This milestone has occurred as a result of the recent explosive rally of Bitcoin that sent its price value to trade over $16,000.
Bitcoin becomes the 19th biggest asset in the world
Due to Bitcoin’s explosive rally, the market capitalization of the top-ranked cryptocurrency has surged exponentially and has reached the $304 billion figure. This massive market cap has helped Bitcoin to make its place among the top twenty assets in the world. As per data from Asset Dash, Bitcoin is now the 19th biggest asset in the world by market capitalization.
In order to enter into the list of top 20 assets, Bitcoin has overtaken two major firms Home Depot the largest United States-based home improvement retailer, and SPDR S&P 500 ETF Trust, an exchange-traded fund. SPDR S&P 500 ETF Trust and Home Depot have now been pushed down to the 20th and 21st spots respectively with a market cap of $303 billion and $297 billion.
Bitcoin has already outshined other top companies in terms of market capitalization. The online payment giant PayPal, Bank of America, Coca-cola Company, and Netflix have now lower market cap than that of Bitcoin.
Currently ranked at the 19th spot, Bitcoin now eyes at the next major firms including the American multinational financial services company MasterCard ($327 billion), American investment banking firm JPMorgan Chase & Co ($345 billion), and the famous American Electric car company Tesla ($390 billion). With a market cap of $2.02 trillion and $1.6 trillion respectively, Apple (AAPL) and Microsoft (MSFT) are currently the two top assets in the world.
Bitcoin adds $100 billion into the market cap within the past one month
It became possible for Bitcoin to achieve this milestone when its price value surged to $16,400. This represents an increase of more than $5000 since the beginning of the month of October. At that time, the price value of Bitcoin was standing at around $10,500 and the market cap of the leading digital currency was revolving around $200 billion. This means that Bitcoin has added $100 billion into its market cap within the duration of just one month.