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Bitcoin has surpassed Meta in market capitalization
Bitcoin has risen to ninth place in the ranking of the largest products and entities by market capitalization.
It has surpassed the company Meta amid a surge in its price.
Over the past day, the asset's market cap has increased by 6.5%, reaching $1.46 trillion.
With the price leap, Bitcoin's capitalization hit $1.46 trillion, allowing it to climb to ninth place, ahead of Meta, according to Companies Market Cap.
In the last 24 hours, the asset's market cap rose by 6.5%, as reported by TradingView. This increase is attributed to a rapid price hike that has enabled the leading cryptocurrency to set a new all-time high.
Changes in Bitcoin's capitalization. Source: TradingView.
As evident, next in the ranking is the oil giant Saudi Aramco, with a capitalization of $1.7 trillion.
Capitalization of companies and products. Source: Companies Market Cap.
This is not the first time Bitcoin has outpaced Meta in market cap. It also occurred in January 2024, triggered by the launch of trading in spot ETFs based on the first cryptocurrency.
At one point, the asset even surpassed silver, which happened in March 2024, when trading volumes for spot Bitcoin ETFs increased significantly. At that time, Bitcoin rose to the eighth spot in the ranking.
The current increase is linked to the presidential elections in the United States, where Republican candidate Donald Trump is leading, having repeatedly expressed his support for the cryptocurrency sector.
Specifically, he has pledged to dismiss SEC Chairman Gary Gensler, make Bitcoin a reserve asset, and promote innovation in this sphere.
It is worth noting that, according to U.S. media, Trump has secured the necessary votes and is nominally the winner.
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