Bitcoin’s market cap surged to a record $1.4 trillion on Monday, surpassing silver on the list of the world’s top ranking assets. This milestone comes amid an upsurge in the spot ETF inflows and Bitcoin’s new all time high of $72,000.
Bitcoin flipped silver in a historic price rally that has seen the world’s largest cryptocurrency testing new levels, making it the world’s eight largest asset by market cap and a potential contender for Google’s seventh position.
The upward trend has continued to fuel speculation about a potential takeover of Google’s seventh position in global assets ranking as Bitcoin continues to break new grounds .
At press time, Bitcoin is $1.7 trillion away from flipping Alphabet(Google’s parent company) , which currently stands at a $1.688 trillion valuation. A further advance in Bitcoin’s upward movement would signal an imminent rise to Google’s seventh position.
Following the spectacular move up the global asset ranking, the gold v Bitcoin debate has resumed with . Some Bitcoin bulls believe that Bitcoin will eventually topple gold as the world’s most valuable asset. Meanwhile, gold’s $14.7 trillion market cap continues to solidify its position as the world’s most valuable property.
Earlier today, MicroStrategy CEO, Micheal Saylor, told a CNBC reporter that “bitcoin will eat gold as it has got all of the great attributes of gold and none of the defects of gold”, a statement reaffirming its company’s long term proxy commitment to Bitcoin.
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