In 2024, Bitcoin reached a symbolic milestone by joining the top 10 largest global assets by market capitalization. With nearly $1 trillion in valuation, crypto now ranks ahead of giants like Tesla and Visa. This milestone demonstrates the growing adoption of cryptoassets in traditional finance.
The rise of Bitcoin
With 947 billion in market capitalization, Bitcoin has established itself as the 10th largest asset in the world in 2024. It is now ahead of Tesla (616 billion) and Visa (567 billion), two behemoths of the global economy.
This meteoric rise was driven by a renewed interest in Bitcoin, whose price approached $50,000 at the start of 2024 in an uncertain macroeconomic context. Many investors now view crypto as a store of value in the same way as gold.
Some analysts even predict that Bitcoin could surpass gold in market capitalization in the coming years, given the limited amount of Bitcoins in circulation. Its position in the world’s top 10 confirms Bitcoin’s status as one of the most important assets on the planet.
This recognition is all the more remarkable given that the digital currency has only been in existence for 15 years. In just over a decade, Bitcoin has established itself as a new asset class, demonstrating extraordinary resilience.
Towards widespread adoption of crypto?
Although still far behind traditional assets like gold (13.6 trillion capitalization), the ascent of Bitcoin symbolizes the growing democratization of crypto among the general public and institutional investors.
More and more companies and investment funds are including a Bitcoin allocation in their portfolios. The launch of crypto-backed ETFs in 2023 also contributed to this enthusiasm.
The presence of exchange-traded index funds makes crypto investing more accessible for retail investors. Some issuers are even considering using the Bitcoin blockchain for the issuance of financial instruments.
This growing adoption confirms the potential of crypto as a new investment class. It paves the way for complete integration between decentralized finance and traditional finance.
By integrating the top 10 largest global assets after only 15 years of existence, Bitcoin proves its resilience and demonstrates how far it has come. Its presence alongside traditional values confirms the potential of crypto to revolutionize finance in the years to come.
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