Bitcoin Soon To Be Valued As Much As Google

The queen of cryptos continues its meteoric rise, now surpassing Saudi Aramco to become the seventh most valued asset in the world. With a market capitalization of $1.81 trillion, Bitcoin is approaching the tech giant Google.

Bitcoin’s market capitalization explodes and nearly touches Google

Yesterday, on November 13, 2024, Bitcoin reached a new historic milestone by hitting $93,000, propelling its market capitalization to $1.81 trillion. This spectacular progression allowed it to surpass Saudi Aramco, the world’s largest oil producer.

This dizzying ascent now places Bitcoin just behind Alphabet, Google’s parent company, which has a valuation of $2.2 trillion.

The gap is gradually narrowing with tech giants, although Bitcoin still needs to almost double its capitalization to compete with industry leaders. At the top of the ranking, gold maintains its dominance with a capitalization of $17.1 trillion, followed by Nvidia ($3.5 trillion), Apple ($3.4 trillion), Microsoft ($3.1 trillion), and Amazon ($2.25 trillion).

In this elevated context, Bitcoin’s performance illustrates the growing maturity of the crypto market, which now boasts a total capitalization of over $3 trillion.

A spillover effect on the entire crypto market

The positive momentum of Bitcoin generates a spillover effect on the entire crypto sector. Ethereum, the second largest cryptocurrency, is following the same trajectory with a price exceeding $3,200.

This progression has recently allowed it to surpass the market capitalization of Bank of America, climbing to 29th place among the most valued assets in the world.

The crypto market as a whole now reaches a valuation comparable to that of major global economies. With a total capitalization of $3.02 trillion, it ranks eighth in the world in terms of GDP, behind France but ahead of many developed economies, including Spain.

This rise of the crypto sector, led by Bitcoin, reflects a growing adoption of digital assets by institutional and individual investors, redefining the contours of the global financial landscape.