Bitcoin Overtakes Tencent In Terms Of Market Value
That time is not now far away when Bitcoin will be known as the biggest asset in the world in terms of market cap, and the current remarkable performance of Bitcoin is evident of the fact. The king of cryptocurrencies has cleared one more big hurdle that was standing on its way towards becoming the world’s largest asset by market value. And it became possible due to the recent amazing overnight bullish rally of the top digital asset, which assisted the coin in making a new all-time high.
Bitcoin Leaves Another Major Corporation Behind In Market Value
Bitcoin’s recent massive price rally has left a major corporation in the dust. Reportedly, the flagship cryptocurrency has overtaken the leading China-based multinational technology conglomerate firm Tencent in terms of market capitalization and has become the world’s 6th biggest asset.
According to the data by the asset tracking site Asset Dash, the market cap of Bitcoin is presently holding the $973 billion figure. While on the other hand, Tencent’s market value is revolving at around $921 billion. This makes BTC the biggest asset than Tencent’s TCEHY.
Bitcoin is not showing mercy to major financial services companies and corporations as it is outshining them one by one. Prior to Tencent, it left crumbling various major firms, including Alibaba Group Holding, the e-car manufacturer Tesla, and the social media giant Facebook. The next on the target list of Bitcoin is Alphabet A (GOOGL) and then Amazon (AMZN). Bitcoin is now only one hit away from recording the high of $1 trillion. Once it has this achievement in hand, it will be standing in competition with Microsoft (MSFT), Saudi Aramco (2222-AB), and Apple (AAPL), which are currently the top three assets in the world by market value.
Bitcoin Blasts Through $52,000 To Make New ATH
The king digital currency was able to overtake Tencent by market value with the help of its latest remarkable rally. Bitcoin’s price blasted through the $52k point to register a new all-time high (ATH) on February 17.
After achieving this milestone, the chances for BTC to hit the $100k level have increased further. At the time of publication, BTC is changing hands at $52,150.
