Despite the decrease in value against the U.S. dollar, bitcoin has become the 12th largest valuation in the world, surpassing the market capitalization of payments giant Visa.

On Wednesday afternoon, BTC had a market valuation of $523.36 billion, which is $40.67 billion more than Visa’s.

However, the crypto asset’s market valuation is still below that of Meta (formerly Facebook), which is currently at $499.66 billion.

For bitcoin to become the 11th largest asset by valuation in the world, its market capitalization needs to increase by $30.06 billion, surpassing that of Meta.

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