Bitcoin has dropped nearly 18% in the last month, but that hasn’t stopped it from becoming the world’s 10th most valuable asset. Meta Platforms (NASDAQ: FB) had a market worth of $553.61 billion at the time of writing, whereas Bitcoin had a valuation of $603.38 billion.
And as a result of this recent turbulence in the stock market and catastrophes surrounding Terra (LUNA) and its stable coin (UST), the cryptocurrency market has been volatile.
BTC’s 44 percent share of the $1.36 trillion crypto market is based on the fact that there are more than 19,000 other cryptocurrencies. Only 10% of the world’s wealth is invested in Bitcoin.
In the meanwhile, gold is a king among the 6,265 commodities and businesses valued at a staggering $86.51 trillion, making Bitcoin’s battle to recover the throne all the more difficult. At the time of writing, the total market capitalization of BTC is equal to 5.12% of that of gold.
Following gold are Suadi Aramco (2.456 trillion) and Apple (2.416 trillion) in terms of market capitalization. Both have a market value that dwarfs the whole cryptocurrency industry.
Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), silver, Amazon (NASDAQ: AMZN), Tesla (NASDAQ: TSLA), and Berkshire Hathaway (NASDAQ: BRK.A) follow them (NYSE: BRK.A).
Overall, in the last five days, Bitcoin gained 10% moreover, making it the 10th most valuable asset in the world. This is not the first time this crypto has been on the list.
This is fascinating since when Nasdaq officially reached bear territory and crypto markets itself suffered swings, it reclaimed its top 10 ranks once again.
Also Read: Web2 Pundits Advocate Against Crypto-Influence In Washington
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