Bitcoin Takes Down Tech Giant Tencent in Market Capitalizaion

Bitcoin reached an all-time high price of 51,000$ on 17th of February, 2021. Currently, Bitcoin is ranked at number 8 on Top Assets by market capitalization. And it is expected to cross the 1 Trillion mark real soon. One of the reasons for this impressive and exponential rise of Bitcoin is the big influx of investors from large scale institutions.

Bitcoin recently took over Tencent, a technology company owning different gaming services and multimedia platforms, and made a statement in the market by crossing $950 Billion. Tencent now stands at $930 Billion market cap. The margin between Bitcoin and Google is comparatively thin. But the market cap from 7th rank onwards is fairly handsome. Gold, naturally, being on the top with $11.281 trillion market cap decreased in price value over the month. Although the second metal (silver) on the list is hovering above Google. The rest of the list includes corporations like Apple, Saudi Aramco, Microsoft and Amazon.

Via Companiesmarketcap.com

Bitcoin might have replaced Tencent very easily on paper but the Chinese conglomerate is not an easy contender to be replaced. Tencent not only owns the world’s largest web portal (QQ.com) but also has stamped its name in the gaming field. WeChat, China’s go to communication and messaging app, believe it or not is also owned by Tencent. Before Bitcoin’s sensational rise, Tencent was also the first Asian Corporation to reach the milestone of $500 billion. So, Tencent had its fair share of achievements until Bitcoin became the new sensation in the market, currently occupying the 8th rank.

Next Target

But it does not end here for Bitcoin as the next potential corporation to be shadowed is not far away. Google, currently ranked 7th, stands at $1.421 trillion. According to Bloqport analysts, at $75,000 per coin, Bitcoin would also be able to surpass Google. With big names like Tesla investing generously in Bitcoin, the cryptocurrency king will keep on weaving and conserving the dollars at an impressive rate. Judging from the rise in speed and mass investments in Bitcoin, Google might not remain on that spot for long.

At press time, the top digital currency is exchanging hands at $52,392 after an increase of 8.48%.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Currently, there are Rare Chances of Bullish Run for both Bitcoin and Ethereum

There have been surprisingly enough data put forth by crypto enthusiasts, predictions, and wishful odds, all pointing towards a possible bullish run for both Bitcoin and Ethereum. While there was no mention of when it might happen for the crypto market, the urgency of these odds playing out could be felt from the statement, but […]

MicroStrategy now has more than 105k Bitcoins after Purchasing another 13005 Bitcoins

Despite the fact that cryptocurrency and the idea of acquiring it, especially Bitcoin, are being shunned over in various capital-driven regions such as China, the adoption rate for the cryptocurrency has also been pretty great. El Salvador has become the first-ever country to introduce Bitcoin into its currency and financial streams as there also have […]

Crypto Investors can Take Part in the Upcoming Auction for Rare Diamond by Sotheby

Sotheby is the largest fine arts and decorative collectibles brokers in the world. The company has about 80 offices in 40 different countries. The biggest Sotheby offices are present in the United Kingdom as it was founded by Britain natives. However, at present, the main headquarters of the auction house is situated in the United […]

Another Small Country of America has Made Plans to Make Bitcoin a Legal Tender

El Salvador’s big crypto revolution has to turn into an epidemic. Many other countries in the region are following suit left and right. Bitcoin has become a more popular mode of trading in comparison to fiat. In the same vein, Paraguayan- a South American nation, has come forward to ensure that they are in the […]