Bitcoin is now the 10th biggest asset by market cap, following Meta Platforms (formerly Facebook) and Nvidia.
Bitcoin (BTC), the original cryptocurrency, is gaining momentum versus global big-cap stocks as it overtakes the market value of American conglomerate holding company Berkshire Hathaway.
BTC market cap has risen above $800 billion on Dec.
As Bitcoin surged past $40,000 over the weekend, the market capitalization of the cryptocurrency rose to above $780 billion, just beating Berkshire Hathaway’s $779 billion on Dec.
Berkshire Hathaway’s class A (BRK.A) stock closed the market at $542 on Dec.
The volatility of BRK.A is nowhere near that of Bitcoin, which surged 20% over the past month and almost 150% YTD, according to data from CoinGecko.
At the time of writing, Bitcoin’s market cap amounts to $811 billion, or 4% higher than the market value of Berkshire Hathaway.
Cryptocurrency lawyer John Deaton took to X (formerly Twitter) to comment on the news. “That’s a pretty damn big bottle of rat poison,” Deaton wrote, referring to the words of Berkshire Hathaway CEO Warren Buffett, who famously called Bitcoin “rat poison squared” in 2018.
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According to data from CompaniesMarketCap, Bitcoin is now the 10th biggest asset by market cap, following Meta Platforms (formerly Facebook) and Nvidia, whose market value currently stands at $834 billion and $1.2 trillion, respectively.
