Bitcoin Overtakes Meta as Market Cap
Despite the banking crisis, there was a rise in the crypto money markets. Bitcoin reached $25,000 again. The market capitalization of Bitcoin has reached approximately $472 billion. With this performance, Bitcoin surpassed Meta’s market value of 469 billion dollars.
Bitcoin has gained close to 10% in 24 hours. BTC climbed up to 11th place and settled behind Tesla. Tesla has a valuation of $552 billion. According to Companies Market Cap data, Bitcoin is ahead of the leading institutions of the financial sector such as Visa, JPMorgan and Mastercard with its performance.
Ethereum, on the other hand, is in 53rd place with a valuation of $ 201.7 billion. Ethereum is positioned on well-known brands such as McDonald, Hermes, Toyota. Gold is at the top of the list, followed by Apple and Saudi Aramco.
Markets were shaken last week due to the banking crisis in the USA. Circle’s remaining assets of over $3 billion in bankrupt tech bank SVB triggered hard sells in the crypto markets. Bitcoin fell to $ 19,560 last week. In the new week, it was announced that banks will not be bailed out in the USA, but depositors will receive their assets. At the same time, expectations of a softening in the Fed’s interest rate path came to the fore. It is also stated that concerns about stablecoins increase the demand for Bitcoin.
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