As of November, Bitcoin has achieved remarkable milestones, surging to record highs in market capitalization. Reaching $1.805 trillion, it surpasses the world’s largest oil producer, Saudi Aramco, and is closing in on tech giants.
Bitcoin's Market Capitalization
On November 14, Bitcoin's market cap hit $1.805 trillion for the first time in history, making it the seventh biggest asset globally, according to CoinMarketCap and CompaniesMarketCap data. Although BTC recently traded at $89,500, it surged past $91,000, allowing it to surpass Saudi Aramco’s market capitalization.
Crypto Market Compared to Global Economies
The entire crypto market cap is currently at $3.02 trillion, making it the eighth-largest economy in terms of GDP, trailing only the United States, China, Germany, Japan, India, the United Kingdom, and France.
Ethereum Follows Bitcoin's Path
Following Bitcoin, Ethereum continues to rise. Recently, Ethereum's market capitalization surpassed that of major companies like Netflix and Johnson & Johnson, securing its place as the 29th largest asset globally.
The recent achievements of Bitcoin and Ethereum reflect the growing interest and trust in cryptocurrencies on a global scale. Their current success signals the importance of the crypto market as a significant component of the world economy.
