BTC market cap now larger than that of Facebook

Introduction

The rise of BTC market cap could not have come at a better time than now. The first cryptocurrency is still setting new records with its recent rally in price as the market prepares for Bitcoin halving. BTC has just surpassed $72k and is still aiming higher. Maybe we could see the roof sooner than later. Many are already predicting a $100k price tag by December. If things continue the way they are, then nothing is impossible.

The market cap of BTC is going up as much as the price. Take a look at the chart below from CoinMarketCap, it shows the current market cap of Bitcoin.

You can see that BTC market cap is now 1.42 trillion dollars. That is a huge volume. Putting this into proper perspective, this increased market cap makes BTC more valuable than Meta (Facebook) as a company. You may want to take a look at the chart below which ranks companies based on their market cap currently. Take a look

This table was produced from Companiesmarketcap which ranks companies based on the their market cap. If you look at the current value of companies listed there, you will see that Bitcoin would take the number 7 position which was occupied by Meta.

Currently, Meta has a market cap of $1.231T and occupies the number 7 position in the table. Adding BTC to table which currently has a market cap of $1.42T, Meta will be pushed down to number 8 position while Bitcoin will take its place in number 7.

The recent surge in price of BTC has been the main cause of its rapid rise in market cap. That did not happen by accident. Different events both current and future have had their contributions to the price and market cap increase of BTC. The future is also very promising for the first cryptocurrency ever to exist.

BTC spot ETF and Halving played roles!!!!!

Two major events have really played huge roles in the amazing run up, of BTC price and market cap. First, the approval of BTc spot ETF earlier gave room for huge flow of funds from big organizations. Companies like Black Rock and many others have pumped in huge funds by purchasing BTC in quantities that individual investors would not have done. As a result, there has been great demand for BTC in the market.

The large purchase of BTC off the market by these large bags has been on-going. They continued to purchase and stack up more BTC, hence a positive price action followed from this trading. But that is not the only reason BTC market cap has grown significantly.

Another even which is future, that will still contribute to a bigger market cap for BTC is the halving which will happen sometime in April. Take a look at the countdown timer from Coin Market Cap.

In about 36 days from now, BTC halving will take place. This is another big event that is expected to have a huge impact in the price of Bitcoin. Once 50% of Bitcoin in circulation is removed, mining it would be less profitable and it will also create more scarcity for BTC in the market.

No one knows exactly how big an impact the halving event will bring. But judging by previous halving events that happened, there is usually a surge in price sometimes afterwards. If that is the case combined with the spot ETF event which has brought more funds to Bitcoin, we could be in for another significant surge in the price of BTC sometimes after April.

Conclusion

If you are in the crypto space, you will probably count yourself fortunate. The question is how prepared are you for the big events ahead. BTC will definitely increase in price and market cap. Are you ready to take advantage of that rare opportunity? You know the answer, right?

Note: Thumbnail is mine. Other images are from CoinMarketCap and CompaniesMarketCap

Posted Using InLeo Alpha

Posted Using InLeo Alpha