Crypto News – Thus far in 2024, Bitcoin has had an incredible year.
What Could Make Bitcoin the Top Commodity by Market Cap?
It surged by more than 140% during the same period last year, hitting an all-time high price of $73,679 on March 13. Since then, it has hovered around the $70,000 mark.
As things stand, if one could fast-forward one year and maintain the same rate of increase, the price of Bitcoin would be roughly $170,574 at the start of April 2025. This would position it in second place on CompaniesMarketcap’s list of the top 100 commodities by capitalization, surpassing silver today as well as Amazon, Alphabet (Google), Saudi Aramco, Nvidia, and Microsoft.
Silver
Bitcoin might overtake silver’s market capitalization once more if it keeps rising from its current price of $69,976 to $71,732, provided that it stays at its current level of $1.412 trillion. With only the eighth position on the list, Bitcoin would have a total market valuation of about $1.413 trillion as a result.
Only $12 billion separates the Mountain View search giant, with a $1.885 trillion market valuation, and Amazon at the moment. After hitting a price of about $95,642, which would surpass a market valuation of $1.885 trillion, Bitcoin can overtake both of them and take sixth place on the list.
Microsoft
To go from second place to third and possibly overtake Microsoft, Bitcoin will need to attain a total market value of almost $2.65 trillion. Approximately $165,608 per BTC is the threshold that Bitcoin must beat in order to move up to the second spot on the list and surpass Microsoft’s $3.126 trillion valuation.
Given that Bitcoin is currently trading for just less than $70,000, this may seem ambitious, but it’s important to keep in mind that between April 2023 and the end of March 2024, the price of Bitcoin climbed by roughly 144.82% annually.
Gold
In order to reach a market capitalization of $15.15 trillion, Bitcoin would need to reach a price of almost $800,476 per BTC after finishing in second place, assuming that the market as a whole stayed unchanged and the price of BTC increased alone. The world’s first cryptocurrency would take the top spot on the market cap leaderboard, surpassing gold‘s current worth of $15.141 trillion.
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