Hassan Maishera
TL;DR
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Bitcoin has set another all-time high price after reaching the $72,850 mark on Monday.
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Its total market cap is now above $1.4 trillion, surpassing Silver to become the 8th largest asset in the world.
BTC Crosses $72,500, Overtakes Silver’s Market Cap
Bitcoin, the world’s leading cryptocurrency by market cap, has set a new all-time high after rallying on Monday. BTC added 5% to its value on Monday and raced to the $72,850 mark, a new all-time high price.
Thanks to this latest rally, BTC has added nearly 250% to its value in the last 12 months. Furthermore, Bitcoin’s total market cap surpassed the $1.4 trillion mark after its rally on Monday. This means that Bitcoin is now the 8th largest asset in the world, surpassing Silver (with a $1.3 trillion market cap) in the process.
Bitcoin’s ongoing rally is fueled by the continuous positive momentum of the spot ETFs. if Bitcoin can continue its rally, it will soon reach Alphabet’s market cap of $1.7 trillion and will occupy the 7th spot if it does.
Although still a long shot, some Bitcoin bulls are optimistic that BTC’s market cap could match that of Gold (which stands at $14.7 trillion). For that to happen, Bitcoin would need to do 10x from here and trade at $720,000 per coin.
Thanks to Bitcoin’s ongoing rally, the leading cryptocurrencies by market cap are also performing well. Ether is up by 5% and is trading above $4,000 once again while XRP and Solana are up by 14% and 8% respectively.
Toncoin is the best performer amongst the top 20 cryptocurrencies by market cap, up by 27% in the last 24 hours. With the ongoing rally, the total cryptocurrency market cap went up by nearly 5% and now stands at $2.71 trillion.
