The post Bitcoin Becomes the World’s 8th Largest Asset By Surpassing Silver Market Cap! appeared first on Coinpedia Fintech News
Bitcoin price has achieved a new milestone by hitting the $88,000 mark during the early Asian trading hours. With this, the BTC price market cap has surpassed the silver with a valuation of $1.736 Trillion. This makes it the world’s 8th largest asset. Notably, this achievement comes as this crypto token gained 10% on the day, while silver fell 2%. Following this, only Gold, Nvidia, Apple, Microsoft, Google, Amazon, and Saudi Aramco are the only global leaders. Moreover, with a YTD increase of >100%, Bitcoin now requires a 10x jump to match the market cap of gold. The recent market movement has reportedly been fueled by institutional buying and the rising popularity of Bitcoin ETFs. As per the latest reports, BlackRock’s iShares Bitcoin Trust (IBIT) saw $4.5 billion in trading volume on 11th November.