With Bitcoin’s price now stable above $90,000, its market capitalization has surged past that of Saudi Aramco, the largest oil producer globally, bringing it closer to tech giants.
On Nov. 14, Bitcoin achieved a record-breaking market cap of $1.81 trillion, placing it as the seventh-largest asset worldwide, as reported by CoinMarketCap and CompaniesMarketCap.
Bitcoin climbed above silver on Nov. 12 to reach the top eight assets, trading around $89,500. The bullish trend continued, pushing BTC’s price above $91,000 by Nov. 14, surpassing the market cap of Saudi Aramco.
Crypto market comparable to leading global economies
The total cryptocurrency market cap has reached $3.02 trillion at the time of writing, positioning it as the eighth-largest in GDP terms globally, behind the United States, China, Germany, Japan, India, the United Kingdom, and France, according to International Monetary Fund data.
Bitcoin is now positioned behind Alphabet, Google’s parent company, which has a market cap of nearly $2.2 trillion, ranking sixth.
The top five assets are gold, Nvidia, Apple, Microsoft, and Amazon, with valuations of approximately $17.1 trillion, $3.5 trillion, $3.4 trillion, $3.1 trillion, and $2.25 trillion, respectively.
Ethereum follows Bitcoin’s footsteps
For Bitcoin to surpass these tech giants, its market cap would need to nearly double. Even with such growth, gold’s valuation would still be around five times that of Bitcoin.
Meanwhile, Ethereum’s market cap has also continued its upward trajectory alongside Bitcoin. Recently, Ethereum overtook Bank of America, reaching a price of $3,200 on Nov. 10.
As of Nov. 14, Ethereum ranks as the world’s 29th largest asset by market capitalization, having also surpassed Netflix and Johnson & Johnson in recent days.
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