Bitcoin Flips Meta to Become the Ninth-Biggest Asset Globally, Targets Silver and Saudi Aramco

Bitcoin, the leading cryptocurrency, has become the ninth-biggest asset globally, according to the most recent data.

Bitcoin, the flagship cryptocurrency, has ascended to become the ninth-largest asset in the world, as per the latest data.

Earlier today, Bitcoin managed to cross the $75,000 level, hitting a new all-time high of $75,358 on CoinGecko.

It has now overtaken tech behemoth Meta in terms of market capitalization following its recent price surge. They are valued at $1.467 trillion and $1.445 trillion, respectively.

This is not the first time that Bitcoin has managed to outpace Facebook's parent company. As reported by U.Today, it also managed to achieve this feat back in March when the cryptocurrency was in the midst of a strong rally fueled by the debut of Bitcoin ETFs.

Meta's shares are up by 65% year-to-date. Last month, the company unveiled a strong Q3 earnings beat. The stellar performance was largely attributed to the company's artificial intelligence pursuits with the Meta AI product. However, the company is not prioritizing the monetization of this hot sector.

In comparison, Bitcoin has risen by over 75% during the same period.

Now that the largest cryptocurrency has overtaken Meta, it would need to add around $300 billion to its market capitalization in order to surpass Saudi Arabia's state-owned energy giant Saudi Aramco.

Silver is also within Bitcoin's reach, with the precious metal's cap currently at $1.78 trillion. Spot silver is currently trading at $30.98 per ounce after experiencing a 5% drop.

Gold remains the largest asset, boasting a market capitalization of $18.1 trillion. As reported by U.Today, analyst Eric Balchunas recently stated that Bitcoin ETFs could end up tripling gold ETFs because the yellow metal is too dull for investors.

Nvidia and Apple are the two largest companies by market cap ($3.4 trillion and $3.38 trillion, respectively).