Bitcoin is in the middle of an impressive run, and you can see that in the total market value. That’s the number of coins multiplied by the price per coin. Bitcoin has now overtaken Facebook, and is on its way to overtake Tesla. This is shown by the AssetDash website, which tracks the market value of the world’s largest assets.
Facebook caught up
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 shares of Mark Zuckerberg’s company have a combined value of nearly $755 billion.
The market value of car manufacturer Tesla is 804 billion dollars, so the market value of bitcoin still needs to increase by about 36 billion dollars to catch up with Tesla.
This is difficult, because Tesla’s share price profit secret is also going great 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 around bitcoin is now very positive, which could 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. The crypto currency has recently also become remarkably 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 be above the limit of 53,780 dollars. That comes down to 43,954 euros per bitcoin.
Since this week, the entire crypto market together is worth 1 trillion dollars. Currently, more than 70 percent of the cryptocurrency market consists of bitcoin.