{"id":2517,"date":"2024-11-12T15:31:56","date_gmt":"2024-11-12T15:31:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2517"},"modified":"2024-11-12T15:31:56","modified_gmt":"2024-11-12T15:31:56","slug":"bitcoin-outshines-silver-claiming-8th-largest-global-asset-title-with-1-76t-valuation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2517","title":{"rendered":"Bitcoin Outshines Silver, Claiming 8th Largest Global Asset Title With $1.76T Valuation"},"content":{"rendered":"
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The unstoppable price run of Bitcoin,<\/a> which started a day after the US presidential elections, is creating a ripple effect in the economy. There\u2019s been a massive jump in value recently, with Bitcoin topping $89k earlier today, showing a 27% increase from the previous week. Then, there are record inflows into Bitcoin ETFs, pushing funds to break some records. This price action also reshaped the list of the world\u2019s biggest assets through market capitalization.<\/p>\n

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#Bitcoin<\/a> flips Silver! Now the 8th largest asset by market cap.\"\ud83d\ude80\" pic.twitter.com\/RAPCJd5gd2<\/a><\/p>\n

\u2014 MEXC (@MEXC_Official) November 12, 2024<\/a><\/p>\n<\/blockquote>\n

Based on the updated list of top assets, Bitcoin is now ranked 8th on the list of the \u201cTop 10 Largest Assets by Market Cap\u201d<\/a>, with a total market value of $1.756 trillion, slightly ahead of silver, valued at $1.736 trillion. This is the second time the digital asset has edged out silver in the rankings, driven by a bullish sentiment on Bitcoin ETFs and blockchain in general.<\/p>\n

Bitcoin breaking into the top world assets is a testament to the growing public acceptance of the crypto asset and its role as an alternative to traditional assets like gold.<\/p>\n

\"\"<\/p>\n

Bitcoin\u2019s Market Value Grows As Price Tops $89k<\/h2>\n

Bitcoin continues its surprising rally this week, testing another all-time high at $89k. On Tuesday, Nov. 12th, the digital asset surged beyond $89,0000, reflecting an 11.3% increase, while silver dipped by 2%, allowing Bitcoin to notch the 8th spot in the list.<\/p>\n

With this latest price action, Bitcoin now trails Saudi Aramco, which is ranked 7th. Amazon, Google, Microsoft, Apple, Nvidia, and gold round out the Top 10. Gold remains the world\u2019s top asset, with a market cap valued at $17.667 trillion, dwarfing Nvidia and Apple by around $3 trillion each.<\/p>\n

\"\"<\/p>\n

A Milestone Worth Celebrating<\/h2>\n

According to The Kobessi Letter, Bitcoin\u2019s current market value and recent price action reflect the digital asset\u2019s potential. The commentary further reacted that gold\u2019s value, which is 10x bigger than BTC, is incredible. However, it also sees the potential of the top digital asset to grow even bigger.<\/p>\n

<\/p>\n

Bitcoin has consistently increased in price recently, partly driven by Trump\u2019s convincing election victory. Trump has a friendly approach to the crypto community. With the Republicans capturing both houses in the last voting, it will be easier for the incoming president to pursue his crypto-friendly policies.<\/p>\n

Big Volumes And Bullish Sentiment From Institutional Investors<\/p>\n

Aside from the \u201cTrump Effect,\u201d Bitcoin is also rallying thanks to bullish sentiment from institutional investors. Many financial institutions are integrating BTC and cryptos into their portfolios, boosting the digital assets\u2019 prices. For example, Bloomberg senior analyst Eric Balchunas noted a solid increase in volume for Bitcoin ETFs<\/a> trading, with iShares Bitcoin Trust (IBIT) enjoying a $4.5 billion trading volume yesterday.<\/p>\n

MicroStrategy is another company that\u2019s benefitting from the Bitcoin rush. Michael Saylor\u2019s MicroStrategy holds the biggest Bitcoin-based portfolio, with its shares currently trading at $340. On Monday, the company announced that it had purchased 27,200 BTC, boosting its total to 279,420.<\/p>\n

Featured image from Siam Bitcoin, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The unstoppable price run of Bitcoin, which started a day after the US presidential elections, is creating a ripple effect in the economy. There\u2019s been a massive jump in value recently, with Bitcoin topping $89k earlier today, showing a 27% increase from the previous week. Then, there are record inflows into Bitcoin ETFs, pushing funds […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2517","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2517"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2517\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}