Bitcoin market capitalization surpasses Warren Buffett’s and becomes the ninth largest asset in the world
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Answer Bitcoin market capitalization surpasses Warren Buffett’s and becomes the ninth largest asset in the world
Every now and then Bitcoin shows and reveals its strength.
Recently, the market capitalization of bitcoin has outperformed Berkshire Hathaway this year, which it has also done in 2020, as the recent rise in bitcoin prices put it ahead of the company run by Warren Buffett, a bitcoin critic.
Bitcoin is the ninth most valuable asset in the world.
Bitcoin beats Warren Buffett in terms of market capitalization:
According to data from CompaniesMarketCap.com, Bitcoin is now the 9th most valuable asset in the world with a market capitalization of over $825 billion.
Bitcoin has displaced Berkshire Hathaway, which has a market value of about $706 billion, according to to source.Read:Decentralized finance projects spark a battle between the founders of cryptocurrency exchanges… Details here
Berkshire Hathaway Chairman and CEO Warren Buffett has long been skeptical of Bitcoin.
Since 2018, Buffett has likened bitcoin to rat poison.
The billionaire investor cited several reasons for his loathing of Bitcoin including the fact that he considers it to have no intrinsic value and is mostly speculative, and that he does not fully understand it.
The billionaire man who is Buffett’s right-hand man, Charlie Munger, also feels the same way about bitcoin.
Bitcoin outperforms other assets:
While Berkshire Hathaway is the latest premium asset that Bitcoin has overtaken, there are many other names that Bitcoin has managed to outpace in terms of total market capitalization including:
Meta, Nvidia, Visa, Samsung…
However, there are many companies and assets that predate Bitcoin, such as:
Tesla, Alphabet, Amazon, Saudi Aramco, Apple and Microsoft.
Gold is also among the assets that precede Bitcoin, currently holding the number one position with a market capitalization of over $11 trillion.
Bitcoin proponents believe that the cryptocurrency will eventually surpass the market value of gold.
Although the Bitcoin market has suffered many drops since January 2022, it is currently on the rise.Read:The founder of the “DigiByte” project criticizes “TRON” and describes it as a scam from China
Bitcoin is trading at $43,800, up 14% in the last 7 days.
Approval of an ETF “Valkyrie Capital” that tracks companies that use clean energy in mining
Canadian KPMG Adds Bitcoin and Ethereum to Its Balance Sheet
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