Silver

Bitcoin

<h2 id="quick-take">Quick Take</h2>
Bitcoin has staked its claim as the 13th largest asset by market cap, evaluated at <a href="https://companiesmarketcap.com/assets-by-market-cap/" rel="noopener noreferrer nofollow">$555 billion</a>. This places it snugly between Visa, the 14th largest asset with a market capitalization of $499 billion, and Eli Lilly, standing at 12th with a market cap of $585 billion. Notably, yesterday, on Oct. 16, Bitcoin’s market cap briefly spiked to $572 billion.
<figure id="attachment_365644" aria-describedby="caption-attachment-365644" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-365644 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/visa.png" alt="Assets by market cap: (Source: companiesmarketcap.com)" width="1254" height="577" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/visa.png 1254w, https://cryptoslate.com/wp-content/uploads/2023/10/visa-300x138.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/visa-1024x471.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/visa-768x353.png 768w" sizes="(max-width: 1254px) 100vw, 1254px">
 <figcaption id="caption-attachment-365644" class="wp-caption-text">
 Assets by market cap: (Source: companiesmarketcap.com)
 </figcaption>
</figure>
In comparison with Silver, whose market cap currently stands at $1.284 trillion, making it the seventh-largest asset, Bitcoin’s market cap is approximately 45% of Silver. This comparison substantiates the growing financial weight of Bitcoin in the global asset arena.
Furthermore, the insight into Bitcoin’s dominance within the cryptocurrency market is noteworthy. Currently hovering just below 52%, almost tying its year-to-date high, the Bitcoin dominance percentage validates its continued strength in the crypto market. Intriguingly, this dominance level mirrors that seen in late June, despite Bitcoin’s price being a few thousand dollars less now.
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<figure id="attachment_365640" aria-describedby="caption-attachment-365640" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-365640 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/BTCD.png" alt="BTC Market Cap, Dominance and Price: (Source: Trading View)" width="1542" height="969" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/BTCD.png 1542w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCD-300x189.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCD-1024x643.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCD-768x483.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCD-1536x965.png 1536w" sizes="(max-width: 1542px) 100vw, 1542px">
 <figcaption id="caption-attachment-365640" class="wp-caption-text">
 BTC Market Cap, Dominance and Price: (Source: Trading View)
 </figcaption>
</figure>
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoin-stakes-its-claim-as-the-13th-largest-asset-by-market-cap-nearing-half-of-silver/">Bitcoin stakes claim as 13th largest asset by market cap, nearing half of Silver</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin stakes claim as 13th largest asset by market cap, nearing half of Silver

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