This week, Bitcoin has seen rapid growth, causing its capitalization to exceed many industrial and financial giants. Its value has now surpassed $498 billion, surpassing JP Morgan Chase, Exon Mobil, Meta, and Visa, propelling it to the 11th most valuable asset, just behind Tesla at $552.07 billion.
It has even bypassed the Meta Corporation, with a market value of only $470 billion. However, Bitcoin is still unable to compete with Apple and gold, with capitalizations of $2.38 trillion and $12.59 trillion, respectively.
Nevertheless, advocates of Bitcoin such as Galaxy Digital CEO Michael Novogratz have expressed confidence that in the long run, the cryptocurrency will become more valuable than gold. This is likely to be due to the influx of institutional capital into this digital asset.