Analysis: Bitcoin hits $84,740 to match silver market cap
2024-06-05 13:29:21
The price of bitcoin has topped $70,000 and is now the ninth largest asset in the world by market capitalization, ranking among a number of listed companies and precious metals. Although bitcoin surpassed silver in March, it would have to reach $84,740 per coin to match silver's current valuation of $1.67 trillion, as silver's market capitalization has now grown to $1.67 trillion. Bitcoin would need a higher price to surpass Apple's market capitalization, which would need to climb to $151,210 per coin to surpass Apple's $2.98 trillion valuation. To surpass Microsoft, the world's largest company with a market capitalization of $3.092 trillion, BTC would need to reach $156,895 per coin. As for gold, the gap is even bigger, which would need to reach $800,100.
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