Bitcoin Price Breaks $51,000 and Hits $1 Trillion Market Cap
This morning, the price of Bitcoin surged above $51,000 per coin, reaching levels not seen since December 2021. What’s more significant is that this price action has propelled Bitcoin’s market cap back to $1 trillion.
Calculating Bitcoin’s Market Cap
To determine the market cap of any cryptocurrency, you multiply the number of coins in circulation by the current price per coin. With a supply of 19,627,587 BTC and a current price around $51,600 per coin, Bitcoin’s market cap now exceeds $1 trillion.
Comparing Trillion Dollar Assets
Putting this milestone into perspective, only seven companies worldwide have achieved a trillion dollar valuation. Meta Platforms (Facebook and Instagram) and Amazon are valued at $1.1 trillion and $1.7 trillion respectively.
Nvidia follows at $1.7 trillion due to its crucial role in AI development. Google is valued at $1.8 trillion, while Saudi Aramco sits at $2 trillion as the national oil company of Saudi Arabia.
At the top are Apple and Microsoft with valuations of $2.8 trillion and $3 trillion respectively. In comparison, Bitcoin’s network value is now comparable to social networks like Facebook and half as valuable as highly profitable companies such as Apple and Microsoft.
Bitcoin vs Other Assets
Bitcoin is also closing in on Silver’s total market cap of approximately $1.2 trillion. However, Gold remains the most valuable asset globally with an estimated market cap of $13.4 trillion.
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