When Bitcoin appeared in the world, probably not many people were convinced of what it represented, or if it would have any future. So you can see that you never have to say never, and that things change at a faster pace every day, we want to tell you what happened recently with the market capitalization of this cryptocurrency. Recently, Bitcoin achieved another big milestone by surpassing Facebook in market cap with more than $ 930,997,463,237 at the time of this writing, according to Asset Dash.
Even though Bitcoin has had some price mishaps earlier this year, the cryptocurrency continues to rise.
Last year, Bitcoin was up more than 360%, compared to Facebook, which was only up 22%. Facebook is just the next giant to surpass Bitcoin, before attempting to become the world’s most valuable asset. Note that the comparison here is that of Facebook, the publicly traded company and Bitcoin, the monetary asset and the distributed network.
Comparison of the value of Bitcoin and Facebook in different areas
Bitcoin was the best performing asset of the last decade, making BTC potentially the best performing asset of the day.
By ranking BTC against the major stocks, it is clear that Bitcoin is slowly climbing its way to the top of the list. With Bitcoin overtaking Facebook, that now puts it in sixth place, just behind Amazon. The following hurdles after that will be in order: Google, Saudi Aramco, Microsoft, then Apple.
What is expected of BTC in the short or medium term?
As we move into the fourth quarter of this year, Bitcoin is poised to grow higher than it is today.
Some experts point out that Bitcoin generally tends to perform well in the fourth quarter of the year, or at least it has done so in previous years. The fourth quarter of 2020 was the start of this current bull run that we find ourselves in today. Many predict an even greater advantage in this fourth quarter due to many circumstances, such as the expansion of the money supply by central banks, or El Salvador converting it into legal tender, and so on.
Likewise, Bitcoin whales over the past few weeks have had a predominantly hoarding trend. If you want to know more details about it, you can review our previous reports. But ultimately, what will happen in the fourth quarter of 2021 is anyone’s guess right now, and just about anything can happen.