Late Berkshire Hathaway Vice Chairman charlie munger They called it “rat poison.” CEO of the company, warren buffett, called it “rat poison squared.” Both agreed it was “worthless.”
Now, both companies are larger than others and Wall Street’s favorites.
After a few weeks of sprints lasting profitsBitcoin is now more valuable than financial giant Berkshire Hathaway, tech giant Meta and electric car company Tesla, according to market capitalization data from . CoinGecko. At the time of writing, BTC is now the 7th most valuable traded asset in the world.
BTC currently boasts a price of $43,910, giving the cryptocurrency a market cap of $859 billion. Meta is valued at $820.7 billion. Tesla at $771.5 billion; Meanwhile, Berkshire Hathaway’s value recently fell to $767.6 billion.
The next market cap in Bitcoin’s crosshairs is the AI chip maker and the stock market’s darling. nvidia, which has more than doubled in value this year amid the global AI craze. Based on current BTC supply, the world’s leading cryptocurrency would need to top $58,939 to overtake Nvidia’s $1.153 trillion valuation. Bitcoin would need to surpass $153,000 to become the world’s most valuable traded asset and dethrone tech giant Apple (market capitalization: $3 trillion).
Bitcoin reached an all-time high in November 2021, briefly surpassing $69,000.
Many people in the cryptocurrency industry are excited about Bitcoin’s recent uptrend. Spot Bitcoin ETF—It will put an end to the ongoing cryptocurrency winter and bring an unprecedented boom to the struggling digital asset industry. British multinational bank Standard Chartered predicted last week that BTC is showing growth. Reach $100,000 Until next year.
In a potentially encouraging sign of the return to health of the cryptocurrency ecosystem, more and more outrageous meme coins are starting to pour in. significant capital inflow.
One such meme coin, MUNGER, was blamed for the death of 99-year-old Charlie Munger last week. He has previously called cryptocurrencies “extremely stupid” and “very dangerous.” MUNGER Coin Pumped over 31,000% It accumulated over $4 million in trading volume before its collapse. crashing to almost 0.
Editor: Andrew Hayward