Bitcoin (BTC) entered the top 10 largest assets by market capitalization.
According to Infinite Market Cap, BTC has left giants like Berkshire Hathaway, Tesla, and Visa behind. According to the portal, Bitcoin’s market cap has reached $809.6 billion, only 3% less than the social media giant Meta, whose market cap currently stands at $834.76 billion.
Bitcoin’s market cap jumped sharply from Nov. 27 to Dec. 3. Since then, the figure rose from $724.03 billion to $816.94 billion, according to CoinMarketCap, setting highs not seen since March 2021.
The jump occurred against the background of a sharp increase in the value of a single Bitcoin, which surpassed $41,000 at the time of writing.
The price of the world’s largest and oldest cryptocurrency fell below $40,000 in April 2022. However, Bitcoin has surged over the last few months, thanks to hopes that a spot Bitcoin exchange-traded fund (ETF) could be approved for launch in the U.S. in 2024.
In recent weeks, executives in the cryptocurrency industry are predicting the start of a new bull cycle, with a growing number of industry analysts optimistic that Bitcoin will reach new all-time highs above $100,000 by 2024.
