Bitcoin

Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), one of the youngest and most revolutionary financial assets, has witnessed an extraordinary journey of unprecedented growth.Since its inception in 2009, this decentralized digital currency has captured the imagination of investors, technologists, and enthusiasts alike, reshaping the landscape of finance and challenging traditional notions of money.<h2 id="header-0">Bitcoin is the world’s 12th-largest asset</h2>As a result of its whopping growth, BTC’s market cap currently stands at around $600 billion, as of July 5. If it were a company cryptocurrency would be the world’s 10th-largest business in terms of market valuation, behind <a href="https://finbold.com/stock/meta-stock-fb/" rel="noopener noreferrer nofollow">Meta Platforms</a> ($732 billion), <a href="https://finbold.com/stock/berkshire-hathaway-inc-stockbrk-a/" rel="noopener noreferrer nofollow">Berkshire Hathaway</a> ($747 billion), <a href="https://finbold.com/stock/tesla-tsla/" rel="noopener noreferrer nofollow">Tesla</a> ($887 billion), and <a href="https://finbold.com/stock/nvidia-stock-nvda/" rel="noopener noreferrer nofollow">Nvidia</a> ($1.04 trillion).<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/26b0e52c399943459271f8d21985c7c6.jpeg" />The world’s largest companies by market cap. Source: FinboldHowever, launched in 2009, it is important to note that Bitcoin is the youngest asset on this list. For instance, <a href="https://www.tradingview.com/symbols/NASDAQ-AAPL/" rel="noopener noreferrer nofollow">Apple</a>, the largest company on the globe, was founded in 1976. Similarly, <a href="https://finbold.com/stock/microsoft-msft/" rel="noopener noreferrer nofollow">Microsoft</a> started its journey in 1975, while the likes of Tesla, Meta, and <a href="https://finbold.com/guide/how-to-buy-google-stock/" rel="noopener noreferrer nofollow">Alphabet</a>, were founded in 2003, 2004, and 1998.Additionally, Bitcoin’s current market cap of $602 million is roughly half of its all-time high during the bull run in late 2021. At that time, Bitcoin’s price peaked at nearly $69,000, elevating its market valuation beyond $1.2 trillion.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/fc12d98e448a4e81b76e4ce45b16606a.jpg" />BTC’s market cap chart since its inception. Source: CoinMarketCapMeanwhile, a flurry of major institutional investors, <a href="https://finbold.com/massive-adoption-alert-blackrocks-ceo-once-said-zero-clients-interested-in-crypto/" rel="noopener noreferrer nofollow">including BlackRock</a> and Fidelity Investments, have recently filed applications to launch spot <a href="https://finbold.com/guide/what-is-bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin exchange-traded funds</a> (<a href="https://finbold.com/etfs/" rel="noopener noreferrer nofollow">ETFs</a>). If approved, it would give US investors direct access to BTC through some of the biggest Wall Street giants, and likely provide the much-needed institutional adoption boost.Assuming it can exceed its previous record highs and taking into consideration that it is yet to witness mainstream adoption, BTC has the potential to become one of the most valuable financial assets in the world.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Here’s where Bitcoin ranks among world’s biggest companies

Table of Contents

Finbold

Other articles published on Jul 6, 2023

TON Blockchain Unveils On-Chain Encrypted Messaging: A New Era of Secure Communication

SolSea Partners with Coca-Cola Serbia for NFTs and Merchandise at EXIT Festival

Aave’s Flash Loans: Revolutionizing The World Of Instant Permissionless Loans

Top 10 crypto assets by returns in 2023

Upcoming Wallet Upgrade: Binance to Retire Certain Deposit Addresses

Ripple Partners Among US Firms Piloting Federal Reserve’s New FedNow Service – Can It Help XRP an...

Join our free newsletter for daily crypto updates!