Thanks to its current strong performance, Bitcoin (BTC) has managed to overtake Amazon in the ranking of the world’s largest financial assets. Let’s take a closer look at the figures.
Bitcoin (BTC) becomes more capitalized than Amazon
Over the past week, Bitcoin (BTC) has broken through its all-time high (ATH) several times, to the point where it is now trading at just over $122,000, up 3.63% over the last 24 hours.
Thanks to this new surge on Sunday night, BTC’s market capitalization rose to $2.431 trillion, $43 billion more than Amazon:
Bitcoin has thus become the fifth largest financial asset in the world, or at least regained its position. This ranking is subject to fierce competition, and depending on market conditions, one asset can easily overtake another before losing ground again.
For example, Bitcoin had already briefly surpassed Amazon on Friday, before the e-commerce giant regained its position thanks to a rise in its share price and a very slight correction in BTC.
Often compared to digital gold, BTC’s market capitalization is also 9.3 times lower than that of real gold, which remains by far the largest financial asset to date. Considering the total number of bitcoins created so far, the unit price per bitcoin would have to be over $1,137,437 to take the top spot in the rankings.
Although there is still a long way to go, the king of cryptocurrencies has already carved out a significant place for itself in the global financial landscape.
