On Sunday, July 13, the price of Bitcoin surged to $119,444 before stabilizing at $118,724 each. This leap brought Bitcoin to sixth place among the world's most valuable assets, quickly closing in on Amazon's market capitalization.
Bitcoin Enters the Top 6 Largest Market Capitalization Assets in the World
With the current market value at $2.361 trillion, Bitcoin (BTC) has officially surpassed the $2.199 trillion valuation of silver. Amazon still leads slightly at $2.388 trillion—but the real question is, for how long.
$120,051 for each coin would push Bitcoin past Amazon's market capitalization of $2.388 trillion—but a formidable psychological barrier at $120,000 hinders this.
To surpass Apple, now the fourth largest asset company with a valuation of $3.153 trillion, Bitcoin must reach $158,552 each. Bitcoin needs to reach about $187,999 each to surpass Microsoft’s market capitalization of $3.740 trillion.
To dethrone Nvidia as the second most valuable asset, BTC will have to rise to about $202,166 each. To beat the final boss - gold, with a massive market capitalization of $22.632 trillion - Bitcoin will need to soar to about $1,137,584 each.
This number doesn't seem too far-fetched for those who believe BTC will reach the milestone of $1 million someday. Among the supporters of this bold vision are Cathie Wood of Ark Invest, Michael Saylor of Strategy, Mike Novogratz of Galaxy Digital, Arthur Hayes, founder of Bitmex, and Changpeng Zhao, co-founder of Binance, often referred to as CZ.