Editors News- Bitcoin (BTC) surpasses Tesla by market capitalization.
- The BTC market has been in bullish sentiment in the past week.
Bitcoin (BTC), the most valuable cryptocurrency measured by market cap, is unstoppable, recently its market cap has increased. Because of the tremendous influx of capital, the market capitalization of the scarce cryptocurrency has recently surpassed that of several big publicly traded firms, and even fiat currencies.
According to a Twitter report by Bitcoin Magazine, it has been said that the gigantic cryptocurrency has exceeded Tesla in terms of Market capitalization.
This has come up after BTC, the world’s leading cryptocurrency has experienced an upward trend in its prices over the past week, leading it to the digital currency setting its monthly highs of $21,438.66. This has also led to BTC surpassing $410 billion in market capitalization.
BTC and Tesla Stats
Bitcoin is an asset unlike anything that has ever existed before it, and ever since it was created. It has been sucking up all the capital that comes its way. The stock market and precious metals have been losing investors to cryptocurrency due to its allure as an investment vehicle. As a result of investors withdrawing their money from the gold market, BTC has seen some of the most significant capital inflows in recent history.
Bitcoin has already exceeded Tesla in terms of market capitalization, and it is currently trading at $20,775 per coin. Bitcoin’s market capitalization is currently $400.22 billion. In contrast, Tesla’s price has registered a price decline of -2.06% in its market cap. That has caused the American multinational automotive and clean energy firm to fall behind BTC in terms of its market value.
Other companies which follow Tesla behind JPMorgan Chase, Walmart, and SPDR S&P 500 ETF Trust seem to be aggressive in their price rise. It denotes that they might soon overtake Tesla in terms of its market cap.
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Source: https://thenewscrypto.com/bitcoin-btc-surpasses-tesla-in-market-cap/