Bitcoin’s rapid growth this week led to the fact that the largest digital currency by capitalization surpassed many industrial and financial giants.
The value of all BTC exceeded $498 billion the day before. Thus, bitcoin was more expensive than JP Morgan Chase, Exon Mobil, Meta and Visa.
In the ranking of the most expensive assets, it jumped to the 11th place and came close to Tesla. The U.S. electric carmaker’s market capitalization is now about $552.07 billion.
At the same time, BTC surpassed Meta Corporation, the market value of which does not exceed $470 billion. However, the largest digital currency is not able to compete with Apple and gold, the capitalization of which is estimated at $2.38 trillion and $12.59 trillion respectively.
Nevertheless, bitcoin supporters, such as Galaxy Digital CEO Mike Novogratz, have previously repeatedly stated that in the long term, the cryptocurrency will still become more expensive than gold.
The value of BTC will rise due to the large-scale entry of institutional capital into this digital asset.