Bitcoin is in the middle of an impressive run, and you can see that in the total market value. That is the number of coins multiplied by the price per coin. Bitcoin has now overtaken Facebook, and is on its way to overtake Tesla. The AssetDash website, which keeps track of the market value of the world’s largest assets, shows this.
Above you can see the top 10 largest assets in the world. As a result of today’s price movements, bitcoin has overtaken the social media giant Facebook. All the shares in Mark Zuckerberg’s company have a combined value of almost 755 billion dollars.
The market value of car manufacturer Tesla is 804 billion dollars, so the market value of bitcoin still has to increase by around 36 billion dollars to catch up with Tesla.
That is difficult, because Tesla’s share price is also going fantastic at the moment. As with bitcoin, Tesla is in a strong upward trend.
Tesla is going faster than bitcoin
In fact, in percentage terms, Tesla (orange) increases in value more than bitcoin (black). Since the beginning of 2020, Tesla’s shares have grown in value by almost 1,200%. Over the same period, bitcoin has increased by more than 400%.
However, the sentiment surrounding bitcoin is now extremely positive, which may ensure that bitcoin will soon overtake Tesla in terms of market value. According to fund manager Grayscale, more and more institutional parties are investing in bitcoin. Lately, the crypto currency has also been strikingly popular among pension funds.
Above Tesla are the giants with a total market value of more than 1 trillion dollars: Alphabet A (Google), Amazon, Microsoft, Saudi Aramco and Apple. If bitcoin also wants to cross this magical border, the exchange rate must exceed the limit of 53,780 dollars. That is equivalent to EUR 43 954 per bitcoin.
Since this week, the whole crypto market is worth USD 1 trillion. Bitcoin currently accounts for more than 70% of the cryptocurrency market.