Bitcoin needs to hit $84,740 to match silver's market cap, and over $800,000 to surpass gold! $BTC

With its price above $70,000, Bitcoin is now the ninth largest asset in the world by market cap, ranking among a number of publicly traded companies and precious metals. Although Bitcoin surpassed silver in market cap in March, the leading cryptocurrency must reach $84,740 per coin to match silver's current $1.67 trillion valuation.

Bitcoin is now the ninth largest asset in the world

Bitcoin (BTC) has managed to climb back above $70,000, becoming the ninth largest asset by market cap. It currently has a market cap that exceeds Meta (formerly Facebook)'s $1.2 trillion valuation and Berkshire Hathaway's $887.57 billion market cap. However, silver's valuation has risen significantly since BTC surpassed its market cap in March. At the time, silver's global market cap was $1.38 trillion, and it has now grown to $1.67 trillion.

Silver has seen a significant increase in price over the past few months. On March 11, 2024, when BTC surpassed its market cap, silver was trading at $24.70 per ounce. Today, silver is trading at $29.68 per ounce, up 20.16% against the dollar over the past 85 days. Considering there are currently 19.7 million BTC in circulation, to surpass silver’s market value, BTC would need to reach $84,740 per coin.

Surpassing Apple’s market cap would require even higher prices. BTC would need to climb to $151,210 per coin to surpass Apple’s $2.98 trillion valuation. To surpass Microsoft, the world’s largest company with a market cap of $3.092 trillion, BTC would need to reach $156,895 per coin. As for gold, the gap is even larger, but still less than a million dollars per coin.

To surpass gold’s current market cap of $15.763 trillion, BTC would need to reach a price of $800,100 per coin with 19.7 million BTC currently in circulation. If we wait until there are 20 million BTC in circulation, the price of BTC would need to reach at least $788,400 to surpass the market value of gold. Finally, assuming all 21 million Bitcoins are in circulation, the price of BTC would need to reach $750,860 to become the world's largest asset by market value.