As the price of Bitcoin (BTC) took a sudden turn to the upside, crossing the psychological threshold at $30,000, its market capitalization grew by more than $35 billion in a single day. Hence, many wonder what its market cap would be if Bitcoin reached the price of $100,000.
Indeed, the market cap of Bitcoin stood at $547.49 billion just 24 hours before press time, while currently, it amounts to $582.52 billion, as per the latest data retrieved by Finbold from the cryptocurrency monitoring platform CoinMarketCap on April 11.
By continuously increasing its market cap and price, not just in the past day, but since the year’s turn, the crypto market and Bitcoin have demonstrated superior strength to that of fiat currencies, such as the United States Dollar (USD), the British Pound (GBP), and the Russian Ruble (RUB).
What if Bitcoin cost $100,000?
Notably, Bitcoin’s market cap directly depends on the price of one BTC and the total number of BTC in circulation. When multiplied, these two numbers give Bitcoin’s market cap. Considering that there are currently 19,343,306 BTC in circulation, this means that if Bitcoin were to suddenly soar to $100,000, its market cap would be roughly $1.93 trillion.
If this were to happen right now, Bitcoin would have a higher market cap than many major companies and traditional assets, including silver with a market cap of $1.41 trillion, Alphabet/Google (NASDAQ: GOOG) at $1.35 trillion, Amazon (NASDAQ: AMAZN) at $1.02 trillion, Berkshire Hathaway (NYSE: BRK.A) at $688.38 billion, NVIDIA (NASDAQ: NVDA) at $679.08 billion, and Tesla (NASDAQ: TSLA) at $593.37 billion.
Meanwhile, Bitcoin had already outperformed some of the major companies in market cap at its price as it is. In January, Finbold reported on Bitcoin surpassing all global banks, including JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC). More recently, Visa (NYSE: V) was also added to the list.
As things stand, the flagship decentralized finance (DeFi) asset is currently trading at the price of $30,207, recording an increase of 6.71% on the day, 8.60% across the week, and 47.20% over the past 30 days, as charts demonstrate.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/the-trillion-dollar-question-what-will-bitcoins-market-cap-be-at-100000-per-coin/