Bitcoin Surpasses Meta in Market Capitalization
Date: 2024-01-12 Author: Dima Zakharov Categories: BUSINESS
Breaking Barriers: Bitcoin's Market Capitalization Hits $950.28 Billion
In a remarkable turn of events, Bitcoin has surged to claim the ninth spot among the top 10 assets/counterparts based on market capitalization, as reported by Companies Market Cap. With a current market capitalization of $950.28 billion, Bitcoin's recent momentum was ignited by the launch of spot-based ETF trading, pushing its price past the $48,500 mark and resulting in a 6.53% daily increase. None of the other top 10 positions have come close to this growth.
Market Capitalization Snapshot
The beginning of January 2024 witnessed Bitcoin's market capitalization increase by over $120 billion, according to CoinMarketCap. One of the driving forces behind this surge was the approval of spot Bitcoin ETFs. The U.S. Securities and Exchange Commission made this historic decision on January 10, 2024.
Bitcoin's ascent in market capitalization is indicative of its growing influence and dominance in the world of cryptocurrencies and finance. As it continues to make strides, it remains a significant player in the ever-evolving digital asset landscape.
