As a seasoned investor with a keen eye for market trends and a knack for spotting potential, I must say that watching Bitcoin surpass some of the world’s most powerful entities is nothing short of extraordinary. Remember when we used to dream about owning shares in oil giants or tech titans? Now we have a digital asset challenging their dominance.
Bitcoin has now surpassed oil behemoth Saudi Aramco by market capitalization.
Just now, the top cryptocurrency reached an all-time peak price of $93,477, as per CoinGecko’s records.
According to U.Today’s report, Bitcoin exceeded the value of silver earlier this week, setting a new record for the largest single-day increase in its history.
Nvidia, Apple, and Microsoft are currently the top three most valuable companies individually. Coming after them are Amazon and Google’s Alphabet. If Bitcoin is to exceed Alphabet in value, its price must significantly increase to approximately $107,000 per unit. This means Bitcoin could potentially outrank Alphabet. To surpass Apple, the price of Bitcoin would need a massive boost, reaching nearly $170,000.
gold consistently holds the highest value among assets, boasting a massive market capitalization of approximately $17.4 trillion.
This afternoon, it was forecasted by Mike Novogratz, CEO of Galaxy Digital, that within the coming decade, Bitcoin could potentially exceed the value of gold.
As a researcher studying the gold market, I’ve come to understand that Novogratz, who personally owns gold, posits that the allure of gold may not resonate as strongly with the younger demographic.
As an analyst, I find myself in agreement with Blocksteam CEO Adam Back’s perspective: he seems confident that gold will eventually surpass Bitcoin during the current market cycle. This suggests that for gold prices to remain stable, the value of Bitcoin would need to reach astronomical heights, potentially as high as $850,000 per coin.
Meanwhile, Bitcoin ETFs are inching closer to surpassing gold ETFs in terms of total assets.
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2024-11-13 23:05