Bitcoin market cap flips tech giant Meta, widens gap on Visa

BTC’s market cap has climbed to the 11th spot amongst top assets by market cap and now sits behind electric vehicle maker Tesla.

Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin market cap has managed to flip that of tech giant Meta.

At the time of writing, data from Companies Market Cap shows Bitcoin’s market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion.

Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals, and ETFs.

Only 24 hours earlier, BTC’s market cap was nearly $37 billion below Meta’s market cap, sitting at $433.49 billion compared to Meta’s market cap of $469 billion.

However, Bitcoin’s market cap rose 9.7% in the past 24 hours, pushing the cryptocurrency to sit in the 11th spot among top assets by market cap, just below electric vehicle maker Tesla.

On Feb. 20, Cointelegraph reported that BTC had flipped the market cap of payment processing giant Visa for the third time in history, putting it just ahead of the payments company.

The gap between the two market caps is now more than $20 billion, though it still is quite a distance from Gold, which sits in first position with a $12.59 trillion market cap, followed by Apple in second place with a $2.380 trillion market cap.

BTC’s price has risen 8.72% in the past 24 hours, currently sitting at $24,441 USD.

Source: https://cointelegraph.com/news/bitcoin-market-cap-flips-tech-giant-meta-widens-gap-on-visa