The market capitalization of Bitcoin has soared, with this asset reaching a new All-Time-High today, pushing the total crypto market value to a new peak of $3.34 trillion.
Specifically, the market capitalization of Bitcoin reached an All-Time-High of $1.93 trillion on Thursday, November 21, when the value of this asset hit a record $97,850.
This means that the market capitalization of Bitcoin is now larger than the sixth-largest company in the world, Saudi Aramco, and is only $230 billion behind the e-commerce giant Amazon.
Saudi Aramco, also known as the Saudi Arabian Oil Company, is a state-owned oil and natural gas company and the national oil company of Saudi Arabia.
Currently, Bitcoin accounts for around 11% of the market capitalization of the gold market, valued at $17.68 trillion, according to data from Companiesmarketcap. In addition, the value of Bitcoin has exceeded half of the world's largest company, Nvidia, with a market capitalization of $3.6 trillion and is more than 10% of the total market capitalization of silver.
The recent 6% price increase of Bitcoin is said to be due to the news that Donald Trump's team is discussing the possibility of creating a dedicated position at the White House for cryptocurrency policy, according to Bloomberg.
Market analyst Tony Sycamore shared with Bloomberg that "the buyers are dominating the sellers" and added, "Although I'm not sure everything will go smoothly as the price gets closer to the $100,000 level, the demand for Bitcoin seems to have no limit."
On November 21, Bitwise CEO Hunter Horsley commented, "The largest wealth transfer program in the world right now is not a tax policy or a welfare program - it's Bitcoin."
"As Bitcoin succeeds, a class of people with different views and values will have more and more resources to express their views. This is an indirect but very meaningful way that Bitcoin is changing the world."
MicroStrategy, a well-known company that accumulates Bit, has also announced plans to accelerate its purchase of this asset. In addition, the launch of Bitcoin ETF options in the US has provided additional momentum for the market this week.
Bitcoin's market share has risen to 61.8% thanks to today's price increase, putting pressure on other altcoins.
Ethereum, with a market capitalization of $377 billion - equivalent to the size of Netflix - has come under heavy pressure as it failed to break above the $3,100 level last week when FUD returned.
Currently, ETH accounts for 11% of the cryptocurrency market, stablecoins account for 5.7%, and the remaining altcoins account for a very small portion of the total market capitalization.
You can see the BTC price here.
Thach Sanh
According to CryptoPotato
