Bitcoin enters the top 10 assets by market value and surpasses Buffett's Berkshire.
Hey, my friends, meeting here! Bitcoin, that guy everyone made fun of a few years ago, has just joined the big boys club. You know, he's now a trillion-dollar asset, leaving Tesla, Visa and JPM looking like little ants in the rearview mirror. Who knew, right?
BTC had its bad days there in 2022 and early 2023 when it fell below $20,000. But then came a twist - BlackRock wanting ETF, financial giants following the tide, and suddenly Bitcoin became the game changer. In 2024, BTC surpassed US$40,000 and the ETF hype made crypto soar.
After a quick (but dramatic) correction, Bitcoin is back in action, especially in January and February. The last few weeks have been an exciting ride, going from $44,000 to over $60,000.
Check it out, it reached its highest price since November 2021 and a market capitalization of 1.185 trillion dollars. It is not only the largest crypto by market value; now, it is the tenth largest asset in the world. It even beat Berkshire Hathaway and JPMorgan Chase. #BitcoinOnTop 🚀🌕 #TrendingTopic #Web3 #BTC #MarketMakers
And look how interesting: Warren Buffett and Jamie Dimon, the heads of Berkshire and JPM, used to belittle Bitcoin, calling it “rat poison squared” and “a useless pet rock”. What are they thinking now?
Looking ahead, Bitcoin is on the heels of Meta (Facebook) and silver, but the challenge increases. Alphabet, Amazon, NVIDIA and Saudi Aramco have capitalizations above 500 billion dollars. The big ones, Microsoft and Apple, are up there with 3 trillion and 2.8 trillion dollars, respectively.
For Bitcoin to catch up to gold, it would have to triple its market capitalization. It seems kind of crazy now, but BTC would need to skyrocket more than 1,000% to be king of the mountain. This does not change the fact that Bitcoin – declared dead almost 500 times in its 15 years of existence – has once again become a top 10 asset by market cap.
So for now, let's enjoy the Bitcoin show and leave Alphabet, NVIDIA, Apple and gold alone. Who knows what the future holds, right?
Did you like it? So enjoy my golden sardine! Big hug from Polacco.
"Long live bitcoin"
