After recording a new all-time high value on the 9th of February by jumping above the mark of $48k, the renowned cryptocurrency Bitcoin (BTC) is now crashing everything that is coming on its way. It has even outshined the company that boosted its price value up to the new all-time high value. Reportedly, Bitcoin has overtaken Tesla (TSLA) in terms of market cap and is now a bigger asset than TSLA.
Bitcoin Leaves Tesla Behind In Market Cap
When the first-ranked cryptocurrency broke through the $48k level to set a new highest-ever value, its market capitalization rose exponentially. According to the data shared by the cryptocurrency data reporting site CoinMarketCap, the market capitalization of Bitcoin has surpassed the figure of $870 billion.
With this market cap, the primary cryptocurrency was able to leave behind the e-car manufacturing giant Tesla and became the seventh-biggest asset in the world by market value. According to the data from Asset Dash (a site that tracks top assets in the world), Bitcoin has a market cap of $871 billion. While on the other hand, Tesla (TSLA) has a market capitalization of around $811 billion and is now holding the 8th position, as per Asset Dash’s data.
Tesla is the driving factor behind the remarkable growth of the leading digital currency. It did this by investing a staggering amount in the major cryptocurrency. Being the first-ever S&P 500 firm to invest in the major crypto, Tesla has purchased Bitcoin (BTC) worth $1.5 billion. Not only it influenced the price of BTC, but it surprised the cryptocurrency community too with this huge investment. This investment has come a few days after the company’s Chief Executive Officer (CEO) and the richest man alive on the earth, Elon Musk, issued some positive remarks in favor of the dominant digital currency and added the coin into its bio on his account on the social media platform Twitter.
Can Bitcoin Hit $1 Trillion In Market Cap To Become World’s Biggest Asset?
Bitcoin’s next aim will be to enter into the list of the top five assets in the world in terms of market value. It has to outperform Tencent (TCEHY) and Alphabet A (GOOGL) to do so.
However, in order to do that, the coin needs to take its market cap to the milestone of $1 trillion first. As soon as it crosses the figure of $1 trillion, there is nothing that can stop Bitcoin from becoming the world’s largest asset.