Key Takeaways
- Bitcoin surpasses silver in market cap, becoming the 8th largest global asset.
- Institutional demand is driving growth, with BlackRock’s Bitcoin ETF generating $4.5B in trading volume.
- Bitcoin would need to 10x from its current level to match the market cap of gold.
Bitcoin Surpasses Silver in Market Cap
Bitcoin has overtaken silver to become the world’s 8th largest asset.
This recent milestone places Bitcoin behind only seven major global assets in terms of market cap, including gold and tech giants like Apple and Microsoft.
It also marks the second time Bitcoin has flipped silver this year, after overtaking the commodity in March.
Bitcoin now trails only seven global assets: gold, with its $14.7 trillion market cap, followed by tech giants NVIDIA, Apple, Microsoft, and Alphabet, and Amazon.
Saudi Aramco, the national petroleum and natural gas company, retains its spot as the seventh-largest at $1.8 trillion in size.
Institutional interest has been surging, with BlackRock’s iShares Bitcoin ETF generating $4.5 billion in trading volume today.
The Kobessi Letter remarked on Bitcoin’s growth, saying, 'The fact that gold is still 10 TIMES larger than Bitcoin is incredible.'
