With a market capitalisation of nearly $780 billion, Bitcoin is currently worth half of all the silver ever mined. According to Infinite Market Cap data, Bitcoin has also surpassed tech giants Facebook, Tencent and Alibaba in terms of market capitalisation, as well as Warren Buffett’s Berkshire Hathaway.
Facebook, Tencent, Alibaba dethroned by Bitcoin’s rally
Bitcoin’s recent rally has pushed its price above $40,000 and helped it reach its all-time high. However, with most of the world now focused on rising prices, Bitcoin’s rising market capitalisation has gone largely unnoticed.
With a market capitalisation of $779.85 billion, Bitcoin is the ninth Bitcoin Up largest asset in the world. The world’s largest cryptocurrency has overtaken Facebook, whose market cap of $755 billion makes it the tenth largest asset and the sixth largest tech company in the world.
Chinese tech company Tencent is also below Bitcoin with a market cap of just over $706 billion, while global e-commerce giant Alibaba is 12th with a market cap of $629.33 billion.
Bitcoin has also outperformed Berkshire Hathaway, the world’s largest holding and investment company founded by billionaire investor Warren Buffett. According to Infinite Market Cap data, Berkshire Hathaway is the thirteenth largest investment company in the world with a market capitalisation of $547 billion.
The screenshot shows the top assets in the world, ranked by market capitalisation. (Source: Infinite Market Cap)
Bitcoin’s market cap (Go to Buy Bitcoin Guide) is equal to half of all silver in existence.
And while it will take many more bull runs to push Bitcoin past gold, its growing market cap becomes even more impressive when compared to commodities like silver.
At its current market cap, Bitcoin is worth half of all the silver in the world. According to Infinite Market Cap, 1.7 million tonnes of silver have been mined so far – at a price of around $26 each, this translates to a market cap of around $1.43 trillion.
Even allowing for the fact that the market cap calculation does not take into account the amount of silver that has been lost or destroyed, or the number of Bitcoins that have disappeared forever, the data only further solidifies Bitcoin’s position in the market.
It also means that Bitcoin will be larger than silver’s current market capitalisation once its price reaches $80,000.