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Bitcoin Surpasses Facebook and Tesla by Reaching $1 Trillion in Market Capitalization

Bitcoin (BTC) incurred a phenomenal rebound of reaching $1 Trillion market capitalization, surpassing the traditional finance titans. 

Bitcoin (BTC) had a market capitalization marginally above $1 Trillion at the time of writing, exceeding Tesla (TSLA) and Facebook (FB) market capitalization. The NASDAQ listed corporations were valued at $928 billion and $795 billion at the time of writing, respectively. 

As the crypto giant has been pitted against precious metals to compare the best store of value, Bitcoin (BTC) lags behind gold that has a total of $11 trillion market cap. Significantly, should the price of Bitcoin (BTC) continue to climb, the goal of surpassing silver may just be on the horizon. At present, silver has a $1.27 trillion market cap. 

Despite the fact that Bitcoin (BTC) is classified as another asset altogether, its prominence has increased to the point that it is attracting players from traditional finance, as corporates are lining up to list Bitcoin (BTC) as an asset in their statement of financial position. Bitcoin (BTC) price rose beyond $50,000, regaining the $1 trillion market cap, after plummeting earlier this month due to heightened regulations crackdown in China.

The rally comes as a result of the declaration earlier this week of the U.S. Treasury Secretary Janet Yellen and Securities and Exchange Commission Chair Gary Gensler that there is no intention of restricting trading in cryptocurrencies. Simultaneously, this shows just how resilient Bitcoin (BTC) has been even with the turmoil of the China crackdown

The Bitcoin (BTC) rally was also prompted by the biggest Facebook blackout in history, which conversely resulted in a 6% dive of the Facebook stock.

Despite the fact that Bitcoin (BTC) remains somewhat disadvantaged as compared to traditional stocks, the asset is proving to be an excellent investment channel. Traditional stocks of companies are known to control a major portion of assets worth trillions of dollars.

Bitcoin (BTC) has quite a return on investment when contrasting it to stocks. Bitcoin (BTC) has outpaced and sustained a greater return on investment than the top ten stocks. Bitcoin (BTC) ROI compared to Apple, Microsoft, and Amazon stocks on a YoY for 5 years, it has a return on investment of 1,692%, 1,666%, and 2,190%, respectively. 

Remarkably, albeit being a notoriously volatile asset under heightened regulatory scrutiny by regulators all over the world, Bitcoin (BTC) has maintained its return on investment (ROI) impressively. A lot of this profit was incurred in early 2021 when Bitcoin (BTC) soared in value due to an infusion of investments from traditional companies, with Tesla leading the way.

Similarly, following a historic dip in early 2021 due to the COVID-19 pandemic, the stocks have risen again.

Also read: Binance’s Operation Infiltrates Fancycat Cybercriminal Ring

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