Store of gold value
Bitcoin on track to become the world’s 10th largest asset and beat Warren Buffett’s Berkshire Hathaway
AnTy December 26, 2020
The digital asset is already worth more than Visa, JPMorgan Chase, Mastercard and PayPal. By the time the cycle reaches its peak, Bitcoin will find its place among the trillion dollar pool of Alphabet, Amazon, Microsoft, and Apple.
At Christmas, Bitcoin hit a new all-time high of $ 25,000.
After hitting $ 25k on the 25th, Bitcoin is going higher and higher. Rising to $ 25,680 with $ 4.79 billion in actual volume.
These latest gains, more than 130% in 4Q20, have also pushed the market capitalization of the digital asset to an all-time high.
At roughly $ 460 billion, Bitcoin is now worth more than the popular Visa payment processor, which has a market capitalization of $ 459.9 billion, according to Asset Dash.
Bitcoin had already surpassed JPMorgan Chase (currently ranked 15th with a market capitalization of $ 379 billion), Mastercard (market capitalization of $ 332 billion places it 17th), and PayPal (23rd with a market capitalization of $ 279 billion).
To climb into the top 10, the price of Bitcoin would have to be worth around $ 28,600, pushing the market capitalization of the world’s largest cryptocurrency to roughly $ 532 billion and replacing Berkshire Hathaway.
Warren Buffet, the CEO of the multinational conglomerate is a skeptic of Bitcoin who says that the cryptocurrency is “worthless.”
It is expected that by the time this cycle reaches its peak, Bitcoin would be in the top four assets by market capitalization requiring a market capitalization of a trillion dollars.
Alphabet, Amazon, Microsoft, and Apple are currently the top four assets, with Apple in first place with a market capitalization of $ 2.24 trillion.
The explosion
This has been an explosive year for Bitcoin. Since falling to $ 3,800 in March, the digital asset has recovered more than 550%.
On Thanksgiving Day, BTC broke the previous ATH of $ 20,000 and made a price discovery that causes the crypto asset to generate a new ATH every other day.
Compared to the performance of traditional markets, where gold was up 22.5%, the S&P 500 was up 14.62% and the WTI was down 22.57% in 2020, Bitcoin’s gains to date they stand at 245%. But this is just the beginning of a bull cycle for BTC, digital assets are expected to have an amazing 2021 with the lunar target ranging from $ 100k to $ 400k.
These gains were driven by increased interest from institutional investors, which was the result of the QE explosion. The 2020 theme has been ‘Don’t Fight the Fed’, which markets expect to continue in 2021.
Since March, major central banks have injected around $ 5.6 trillion of stimulus into the markets, and if anything is certain for 2021, it’s another generous money print. This in turn means that the price of assets, be it the stock market, gold or Bitcoin, will all continue to rise.
Bitcoin / USD BTCUSD
25,690.3728 $ 1,559.41 6.07%
Volume 43.4 b Change $ 1,559.41 Open $ 25,690.3728 Current 18.58 m Market capitalization 477.37 b
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AnTy has been involved in the crypto space full time for over two years. Before her beginnings in blockchain, she worked with the NGO Doctor Without Borders as a fundraiser and since then exploring, reading and creating for different segments of the industry.
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