Bitcoin has made a significant leap by surpassing oil giant Saudi Aramco, securing the seventh spot among the world's largest assets by market capitalization. As reported by WatcherGuru, Bitcoin's market cap now stands at $1.81 trillion.
Bitcoin Among Major Assets
The recent surge in Bitcoin's market cap has allowed it to overtake not only Saudi Aramco but also assets like silver and companies like Meta. Currently, Bitcoin ranks behind leading tech giants such as Nvidia, Apple, Microsoft, Amazon, and Alphabet.
Factors Driving Bitcoin's Growth
Experts attribute the growth of Bitcoin to increasing institutional interest and notable shifts in U.S. regulatory sentiment. A growing number of financial institutions are engaging with the crypto industry, positively impacting its market capitalization.
Future Projections and Expectations
Analysts predict that Bitcoin could finish 2024 strongly, with December prices expected to average $99,696.59. Favorable market trends and ongoing interest from major players are contributing to this positive outlook.
Bitcoin's rise in global asset rankings reflects market confidence in its potential and stability. This trend is expected to continue, fueled by growing institutional support and positive regulatory changes.
