Bitcoin Returns to Top 10 Global Assets by Market Cap After Soaring to $75K

Bitcoin has made a remarkable comeback, soaring past $75,000 and reclaiming its position among the top 10 global assets by market capitalization.

Market Surge Driven by Political Events

The cryptocurrency market has experienced significant rallies, largely influenced by Donald Trump’s increasing chances of winning the U.S. presidential election. Bitcoin broke its previous all-time high of $73,737, reaching a new peak and pushing its market cap to approximately $1.5 trillion at one point.

Current Market Position

As of now, Bitcoin's market capitalization stands at around $1.475 trillion, placing it in the 9th position among global assets. It surpasses major companies such as Meta Platforms (10th), Berkshire Hathaway (12th), Tesla (14th), and Walmart (16th). Gold remains the leader with a market cap exceeding $18 trillion, despite a slight retracement in its price.

Comparison with Other Major Assets

Following Bitcoin are other significant assets, including NVIDIA at $3.4 trillion, Apple at $3.377 trillion, Microsoft at $3.06 trillion, Amazon at $2.1 trillion, and Alphabet at $2.08 trillion. Bitcoin is now targeting the market caps of Saudi Aramco ($1.775 trillion) and silver ($1.784 trillion).

Ethereum's Performance

Ethereum (ETH), the second-largest cryptocurrency, has also seen positive movement, gaining around 7% in value recently. Its price is currently close to $2,600, giving it a market cap of over $310 billion, which ranks it at 34th place among global assets.