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Home Latest News Bitcoin Bitcoin is now worth half of all silver in the world

Bitcoin is now worth half of all silver in the world

Bitcoin has surpassed tech giants Facebook, Tencent, and Alibaba in terms of market cap, as well as Warren Buffett’s Berkshire Hathaway, according to data from Infinite Market Cap.

As reported by Cryptoslate, Bitcoin’s newest rally has pushed its price past $40,000, helping it reach its all-time-high. Nonetheless, with most of the world now focused on rising prices, Bitcoin’s increasing market cap has mostly gone unnoticed.

Bitcoin is the ninth-largest asset in the world, with a market capitalization of $779.85 billion. The world’s largest cryptocurrency has crossed Facebook, whose $755 billion market cap makes it the tenth-largest asset and the sixth-largest tech company in the world.

Chinese tech company Tencent ranks below Bitcoin with a market cap of just over $706 billion, while the global e-commerce giant Alibaba is ranked 12th with a market cap of $629.33 billion.

Bitcoin has also surpassed Berkshire Hathaway, the world’s largest holding and investment company founded by billionaire investor Warren Buffett. Berkshire Hathaway is the world’s thirteen-largest asset with a market capitalization of $547 billion, according to data from Infinite Market Cap.

At its current market capitalization, Bitcoin is worth half of all the silver in the world. According to Infinite Market Cap, 1.7 million metric tons of silver has been mined so far—at a price of about $26 per once, this puts its market cap at around $1.43 trillion.

This means that once Bitcoin reaches a price of $80,000, its market cap will be larger than silver’s current market cap.

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