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hiBitcoin Surpasses Meta in Market Capitalization
Bitcoin ranked ninth on the list of largest companies and assets by market capitalization, surpassing Meta thanks to a rise in its exchange rate. The value of the asset increased by 6.5% over the past 24 hours, reaching the $1.46 trillion mark. According to TradingView, the surge in the exchange rate led to the cryptocurrency updating its all-time high.
In the capitalization ranking, bitcoin is now second only to giants such as oil company Saudi Aramco, whose capitalization is $1.7 trillion. This is not the first time bitcoin has surpassed Meta; it previously did so in January 2024 thanks to the launch of trading in shares of bitcoin-based spot ETFs. In March 2024, the first cryptocurrency also surpassed silver to take the eighth spot in the rankings.
The current growth of bitcoin is attributed to the US presidential election, where the Republican Party candidate Donald Trump is in the lead. He is known for his support of cryptocurrencies and his promise to fire SEC Chairman Gary Gensler. Also, Trump plans to make bitcoin a reserve asset and promote innovation in this area. According to the US media, Trump has already collected the necessary number of votes and actually became the winner of the election.
Important Notice: The material provided is for informational purposes only and does not constitute investment advice. The Rao Cash editorial team is not responsible for your financial decisions. Cryptocurrency assets involve high risks — conduct your own research (DYOR).
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