By approximately $ 1 trillion, Bitcoin’s market capitalization has surpassed Tencent, which holds a valuation of approximately $ 917.8 billion at the time of publication, according to the AssetDash ranking.
Crypto’s biggest digital asset is now sixth on AssetDash’s list of leading market capitalization companies worldwide. Google, officially known by its parent company, Alphabet (GOOGL), ranks fifth with a market capitalization of approximately $ 1.4 trillion at the time of publication.
“After reaching a new highest-priced brand of all time, bitcoin has overtaken Chinese technology giant Tencent, moving to sixth place in the world among publicly traded companies,” said the co-founder and CEO from CoinSmart, Justin Hartzman, to Cointelegraph, adding:
“This is a strong indicator of the greater value, trust and adoption of bitcoin and the cryptocurrency industry. Many analysts are saying that this is the year that bitcoin will exceed $ 100,000 and I don’t think the speculation is far off.
In October, Bitcoin overtook PayPal, taking 21st place on the leaderboard, with a market capitalization of just $ 240 billion. The currency has grown substantially since then. Bitcoin surpassed Tencent in the market cap rating before, although market caps have changed since then. At the time of publication, BTC was above Tencent, Tesla and Facebook.
Crypto’s pioneering asset has made a significant recovery since dropping to $ 3,600 in March 2020 during a pandemic-related accident. The currency race picked up speed in the second half of 2020, during which several traditional financial entities announced their Bitcoin purchases. One of the most notable participants was MicroStrategy, whose CEO, Michael Saylor, significantly defended Bitcoin.