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Bitcoin Overtakes Saudi Aramco, Becomes the Seventh Largest Asset Globally

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by Giorgi Kostiuk

a year ago

Bitcoin, the world's largest cryptocurrency, has surpassed the market capitalization of Saudi Aramco, becoming the seventh largest asset globally.

Bitcoin's Historic Growth

Since reaching its all-time high, Bitcoin has risen by more than 12% in a week, reaching a value of $102,221 as of Friday. This growth positions the cryptocurrency as the seventh largest asset in the world, behind companies such as Apple, Microsoft, and Amazon.

Samson Mow's Critique

Samson Mow, JAN3 CEO and Bitcoin enthusiast, addressed criticisms related to Bitcoin's future viability. Last week, Mow quoted an unnamed analyst who doubted Bitcoin's ability to reach $100,000, stating it was impossible. Mow shared a screenshot illustrating Bitcoin's position above Saudi Aramco. Previously, other analysts predicted Bitcoin's value couldn't exceed $200, which turned out to be wrong over time.

Acceleration of Market Momentum

Currently, Bitcoin's price has increased due to positive market sentiment and higher demand. Its current value of $102,221 confirms Bitcoin's status as the best-performing cryptocurrency. This momentum indicates Bitcoin's continued infiltration into conventional assets and creation of new financial landscapes.

With its latest achievement, Bitcoin shows resilience and potential for further growth, continually disproving early criticism and solidifying its position on the global market.

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