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Bitcoin’s recent price surge has propelled its market capitalization above that of silver, establishing it as the eighth-largest asset worldwide. With a market cap of $1.4 trillion, Bitcoin now surpasses silver, which holds a market cap of $1.3 trillion, as reported by CompaniesMarketCap data. However, Bitcoin remains behind Alphabet, boasting a market cap of $1.6 trillion, while gold retains its position as the largest asset globally with a market cap of $14.66 trillion.
Over the past 24 hours, Bitcoin’s price has increased by approximately 2.4%, reaching $71,621. This milestone marks Bitcoin’s ascent beyond the $71,000 mark, further solidifying its position as a leading digital asset in the cryptocurrency market.
The surge in Bitcoin’s price coincides with another successful week for spot bitcoin exchange-traded funds (ETFs). Data from BitMEX Research indicates that total net flows into spot bitcoin ETFs since January 11 have reached $9.59 billion, reflecting growing investor interest and confidence in cryptocurrency-related investment products.
