Bitcoin Skyrockets In Market Cap, Outdoes Berkshire Hathaway and Tesla

By: Eva Baxter

Bitcoin Solidifies Its Position Among Top 10 Assets

Bitcoin has reached a remarkable financial milestone by achieving a new year-to-date high of $41,700. With its market capitalisation touching $813 billion, it has ascended into the global top ten assets, outstripping the likes of conglomerates like Berkshire Hathaway and tech giant Tesla. This triumph marks the growing dominance and influence of digital assets within the global financial ecosystem.

Divergence between Traditional and Digital Assets

The year-to-date increase for Bitcoin is approximately 150%, showcasing its meteoric rise in comparison to traditional assets. Gold, for instance, started its trading day with a record peak near the $2,150 mark, though it later retreated to $2,068. Gold's appreciation year-to-date is recorded at 12%, a stark contrast to Bitcoin's substantial growth, underscoring the increasing divergence between the performances of traditional and digital assets.

Bitcoin Momentum Versus Global Big-cap Stocks

The original cryptocurrency, Bitcoin, is now ahead of global big-cap stocks such as Berkshire Hathaway, in terms of market capitalisation. As Bitcoin soared past $40,000, surpassing Berkshire Hathaway's market value on the way, it further secured its position amongst the world's top 10 assets in the marketplace. Currently, the market cap of Bitcoin is gauged at around $811 billion, which is 4% more than that of Berkshire Hathaway.