Bitcoin Overtakes Nvidia to Enter Top 10 Global Assets by Market Cap, Ethereum Now Ranks 24th

Gaining 23% over the last seven days, the world’s largest cryptocurrency, Bitcoin, has managed to cut its deficit from January’s rough start.

Gaining 23% over the last seven days, the world’s largest cryptocurrency, Bitcoin, has managed to cut its deficit from January’s rough start. Also, the rise in value has helped Bitcoin enter the top 10 global assets ranked by market cap.

Bitcoin Has the 9th Biggest Market Cap

The 23% rise in value, and the resulting market cap hike, have seen Bitcoin overtake Meta (formerly Facebook), Nvidia, and Berkshire Hathaway, to enter the top 10 of the world’s most valuable assets ranked by market cap.

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Bitcoin’s market cap has jumped from $734 billion on February 1 to $845.72 billion, which means the digital asset has the 9th biggest market cap of all global assets. Tesla, which is valued at $963.23 billion, sits a position ahead of Bitcoin.

Berkshire Hathaway is ranked below Bitcoin with $720.6 billion, while Nvidia is ranked 11th with $665.5 billion and Meta 12th with $663.28 billion.

Top 10 assets ranked by market cap. Source: CompaniesMarketCap

Ethereum is Now Ranked as the 24th Biggest Global Asset

Ethereum, which has gained 25% over the last seven days, has seen a significant jump in its market cap. Ethereum is now the 24th Largest Global Asset, with a market cap of $388.65 billion. Ethereum now sits above Walmart, Mastercard, Nestle, Alibaba, and Exxon Mobil on the ranking of global assets.

On the Flipside

  • Despite Bitcoin trading above $44k, JP Morgan has put its fair value at $38,000, which would place it under the top 10 global asset ranking.

Why You Should Care

The impressive feat reached by Bitcoin and Ethereum is a result of the increasing global adoption of cryptocurrencies. 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia