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Bitcoin Surpasses Meta, Now World’s 9th Largest Asset

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Bitcoin has reached a milestone, surpassing Meta to secure the 9th position in global market capitalization rankings.

The rally, driven by investor optimism following Donald Trump’s win in the 2024 US presidential election, has propelled Bitcoin to a market cap of $1.48 trillion, once again edging out Meta’s $1.44 trillion.

Bitcoin is Now the 9th Largest Asset Worldwide

With each Bitcoin now valued at approximately $74,900, the cryptocurrency has surpassed Meta’s market cap with notable resilience.

This marks the second time Bitcoin has overtaken Meta, following a rally in March when it briefly surged above $73,000. The milestone highlights Bitcoin’s increasing relevance and competitive positioning alongside other major tech giants.

Read more: Bitcoin (BTC) Price Prediction 2024/2025/2030

The list is topped by gold, which has a market cap of $17.95 trillion. Chip maker NVIDIA is next at $3.57 trillion, followed by Apple at $3.36 trillion.

Other companies in this ranking include Microsoft, Amazon, and Alphabet (Google). Bitcoin’s latest valuation places it just behind silver in 9th place. This development demonstrates Bitcoin’s evolution from a niche digital asset to a globally significant store of value.

Can Bitcoin Overtake Silver?

As Bitcoin climbs the global market cap rankings, many are now wondering if it could soon surpass silver. Silver currently holds a market cap of approximately $1.75 trillion, placing it just above Bitcoin’s $1.48 trillion.

In March 2024, Bitcoin briefly overtook silver as Bitcoin became the 8th-ranking global asset.

“I could potentially see Bitcoin to become the 21st century digital gold. Let’s not forget that gold was also volatile historically. But it is important to keep in mind that Bitcoin is risky: it is too volatile to be a reliable store of value today. And I expect it to remain ultra-volatile in the foreseeable future,” said Marion Laboure, analyst at Deutsche Bank Research.

At that time, its valuation surged to $1.42 trillion, surpassing silver at $1.387 trillion, with a 4% increase to an all-time high beyond $72,000. With Bitcoin’s recent momentum and continued interest from institutional investors, this event is likely to repeat.

Surpassing silver would further solidify Bitcoin’s position as a digital gold and strengthen its reputation as a valuable asset in the broader financial arena. If Bitcoin continues on this trajectory, overtaking silver could be the next milestone in its journey.

Mainstream Bitcoin Adoption

Bitcoin’s ascent into the world’s top assets is accompanied by growing interest, as shown by investment flows into various exchange-traded funds (ETFs).

For instance on November 6, the majority of Bitcoin products showed positive inflows. Fidelity’s FBTC led with a substantial $308.8 million inflow, suggesting strong investor interest. Bitwise’s BITB and Ark’s ARKB also gained, receiving $100.9 million and $127 million, respectively.

Grayscale’s GBTC, despite previous outflows, managed a modest change of $30.9 million. This day’s inflows highlight a general uptick in interest across various ETFs, contrasting with recent periods of volatility and outflows in other funds. Total inflows reached $621.9 million, reflecting a demand for Bitcoin products.

Read more: What Is a Bitcoin ETF?

As Bitcoin continues to solidify its position among the world’s largest assets, these investment patterns suggest that mainstream adoption is on the horizon. With institutional support growing and infrastructure maturing to facilitate broader access, Bitcoin is positioned as a viable asset in traditional finance.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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8,000 Dormant Bitcoin Suddenly Move: What’s Next For The Market?

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Popular CryptoQuant analyst Maartunn reports that 8,000 Bitcoin (BTC) which have been dormant for five to seven years have been moved suddenly, adding to current bearish concerns in the crypto. This development comes after a rather adventurous week as BTC prices struggled to break above $89,000, following an initial steady bullish climb, before succumbing to heavy selling pressures driven by US President Donald Trump’s hawkish tariff policy.

$674 Million In Old BTC Transfers In Single Block – Cause For Alarm?

The Spent Output Age Bands is a crucial metric to measure how long Bitcoin tokens remain inactive before moving. According to Maartuun in an X post, this metric has recently revealed that 8,000 BTC worth $674 million that was last transferred between 2018 and 2020 have been moved recently in a single block drawing significant market attention.

This transfer follows a string of recent activations of dormant Bitcoin stashes. On March 24, a 14-year inactive Bitcoin wallet suddenly moved 100 Bitcoin valued at $8.5 million. Meanwhile, in early March, six ancient Bitcoin wallets also transferred nearly 250 BTC worth $22 million.

Bitcoin

Notably, the most recent transaction reported by Maartuun is of far larger size with potentially strong implications for an uncertain Bitcoin market. Generally, a movement of such a large amount of BTC from long-term dormancy is usually interpreted as a signal for incoming selling pressure leading to major price corrections.

However, there are other potential non-bearish motives behind such transactions such as internal wallet shuffling by institutional investors or large holders as well as a cold storage reorganization. Currently, the owners of the new wallets receiving the 8000 is unknown thus reducing the potential of a bearish reaction from BTC holders.

Bitcoin Price Overview

In the last day, Bitcoin prices declined by 4.00% after the US Government announced intentions to impose a 25% tariff on auto imports and goods from China, Mexico, and Canada starting from April 3. This marks the latest negative reaction of the crypto market to President Trump’s international trade policies following similar incidents in early February and mid-March.

These measures by the Donald Trump administration are flaming fears of a potential economic slowdown which could further push high-risk assets such as BTC out of investors’ portfolios leading to a further downside.

At press time, Bitcoin currently trades at $83,693 reflecting a decline of 0.72% and 2.53% in the last seven and 30 days respectively. Meanwhile, the asset’s daily trading volume is up by 19.38% and is valued at $31.58 billion. The BTC market cap now stands at $1.66 trillion and still represents a dominant 61.1% of the total crypto market.

Bitcoin

BTC trading at $83,727 on the daily chart | Source: BTCUSDT chart on Tradingview.com



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Bitcoin Price Could Surge To $95,000 — But Analyst Sounds ‘Bull Trap’ Alarm

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Bitcoin price seemed to be breaking out of its consolidation range early on in the week, rising to as high as $88,500 on Monday, March 24. However, the flagship cryptocurrency appears to be back to ground zero, retracing to around $84,000 on Friday, March 28.

This recent price correction came following the release of inflation data in the United States. With the latest inflation data suggesting delayed rate cuts by the US Federal Reserve, risk assets — including cryptocurrencies — experienced significant downward pressure to close the week.

Here’s How BTC Price Could Fall To $62,000

The story gets a little grim for the world’s largest cryptocurrency after popular crypto analyst Crypto Capo put forward a bearish projection for the Bitcoin price in their latest post on the X platform. According to the crypto trader, the price of BTC could be on its way to a new low in this cycle.

Crypto Capo highlighted in their analysis of the BTC 12-hour chart that the $84,000 – $85,000 is pivotal for the premier cryptocurrency’s future trajectory. The online pundit noted that the Bitcoin price action could go one of two ways over the next few weeks.

In the first scenario, Crypto Capo expects the price of Bitcoin to enjoy a short-lived bullish burst to within the $95,000 – $100,000 range. This initial price run-up would be a bull trap for investors, according to the analyst. For context, a bull trap is a pattern that lures long traders (bulls) into the market by an initial upward surge followed by a quick reversal.

Fittingly, Crypto Capo predicts that Bitcoin will experience a capitulation event that will see its value plummet to the next main support. As seen in the chart below, this next major support lies within the $62,000 – $69,000 bracket, containing the April and November all-time high prices.

Bitcoin price

Source: @CryptoCapo_ on X

In the alternate scenario, Crypto Capo highlighted how the first bull trap idea could be invalidated. According to the trader, if the Bitcoin price successfully closes beneath the $84,000 – $85,000 range, it could fall to the $62,000 – $69,000 bracket.

Bitcoin Price At A Glance

As of this writing, the price of Bitcoin is moving around the $83,300 level, reflecting a 3% decline in the past 24 hours. This single correction event has wiped out the premier coin’s early-week profit, with CoinGecko data showing no significant gain or loss in the last seven days.

Bitcoin price

The price of BTC slides beneath $84,000 on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image created by DALL-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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El Salvador’s Nayib Bukele Open to White House Visit

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El Salvador’s President Nayib Bukele has hinted at an upcoming visit to US President Donald Trump at the White House. The move has fueled speculation about closer cooperation between the two pro-Bitcoin leaders.

Although no official agenda has been released, if confirmed, the meeting would mark Bukele as the first Western Hemisphere leader to visit Trump at the White House during his current term.

Can Bitcoin Improve Diplomatic Relationship Between US and El Salvador?

On March 28, Bukele reacted to a report claiming that Trump plans to invite him to Washington.

Responding on social media, Bukele confirmed his willingness to visit and jokingly noted that he would bring “several cans of Diet Coke” — a nod to Trump’s well-known beverage of choice.

The two leaders have enjoyed a friendly relationship since Trump’s return to office. They reportedly spoke after the inauguration, and Trump later thanked Bukele publicly, commending his “understanding of this horrible situation” regarding US border issues.

Meanwhile, the possible visit follows El Salvador’s acceptance of deported Venezuelan gang members from the US.

These individuals were held at the country’s high-security Terrorism Confinement Center. The facility was recently visited by US Homeland Secretary Kristi Noem.

President Bukele’s administration has earned international praise — and criticism — for its tough stance on crime. His crackdown on gangs has transformed El Salvador from one of the most violent nations in the world to one of the safest in Latin America.

Meanwhile, speculation is growing within the crypto community that Bitcoin may emerge as a significant topic during the leaders’ discussions. Both Bukele and Trump have openly supported Bitcoin, though their approaches differ slightly.

Bukele’s stance on Bitcoin is notably proactive. In 2021, he spearheaded the creation of the world’s first national Bitcoin reserve, which has since grown to 6,130.18 BTC—worth over $512 million.

El Salvador's Bitcoin Holdings.
El Salvador’s Bitcoin Holdings. Source: The Bitcoin Office

Moreover, his pro-Bitcoin initiatives have attracted substantial foreign investments, including partnerships with prominent crypto companies like Tether.

President Trump also recently became more supportive of the top crypto asset, reversing previous skepticism.

Earlier this month, Trump authorized the establishment of a US National Bitcoin Reserve, with the federal government holding initial holdings of around 200,000 BTC.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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