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- The market valuation for Bitcoin is $544.16 billion as recorded on April 7.
- Bitcoin now has the eighth-largest market cap, surpassing both Visa and LVMH.
The greater a cryptocurrency’s market valuation, the more influential it is thought to be. This is why many people consider market capitalization to be the most crucial factor when deciding how to rank various cryptocurrencies.
Since the beginning of the year, Bitcoin’s value has climbed by leaps and bounds, causing its market capitalization to soar to the point where it has surpassed the market caps of several large companies throughout the world.
In recent years, Bitcoin’s popularity has skyrocketed. Due to its meteoric rise in value, Bitcoin has surpassed some of the most well-established and well-known companies in the world. Already this year alone, three of the most well-known brands in the tech and TradFi industries have been flipped by the master cryptocurrency.
No Way Close to All-time High
According to statistics compiled by CMC, the market valuation for Bitcoin is $539.16 billion as recorded on April 7. Bitcoin now has the eighth largest market cap, surpassing both Visa ($465.13B) and LVMH ($495.84B).
#CMCStats: #Bitcoin vs Top Companies ✨
An overall green week. without any major changes among top companies 💪#Apple #Microsoft #Alphabet #Amazon #Berkshire #Tesla #Meta #LVMH #Visa pic.twitter.com/FkawDqccCs
— CoinMarketCap (@CoinMarketCap) April 9, 2023
Apple’s $2605.24B valuation puts it far ahead of Microsoft’s $2170.61B valuation and is on top of the list. In addition, it is just $20.29B away from passing Meta and moving into the number seven slot on the list.
Nonetheless, on March 14, Bitcoin’s market valuation surpassed Meta’s $469 billion, marking a significant milestone for the cryptocurrency.
While Bitcoin’s value has increased recently, it is still 59% behind its record high of $69,044 set on November 10th, 2021. If the price gets anywhere near that level, it will certainly start going up the steps quickly.