Bitcoin (BTC), one of the youngest and most revolutionary financial assets, has witnessed an extraordinary journey of unprecedented growth.
Since its inception in 2009, this decentralized digital currency has captured the imagination of investors, technologists, and enthusiasts alike, reshaping the landscape of finance and challenging traditional notions of money.
Bitcoin is the world’s 12th-largest asset
As a result of its whopping growth, BTC’s market cap currently stands at around $600 billion, as of July 5. If it were a company cryptocurrency would be the world’s 10th-largest business in terms of market valuation, behind Meta Platforms ($732 billion), Berkshire Hathaway ($747 billion), Tesla ($887 billion), and Nvidia ($1.04 trillion).
However, launched in 2009, it is important to note that Bitcoin is the youngest asset on this list. For instance, Apple, the largest company on the globe, was founded in 1976. Similarly, Microsoft started its journey in 1975, while the likes of Tesla, Meta, and Alphabet, were founded in 2003, 2004, and 1998.
Additionally, Bitcoin’s current market cap of $602 million is roughly half of its all-time high during the bull run in late 2021. At that time, Bitcoin’s price peaked at nearly $69,000, elevating its market valuation beyond $1.2 trillion.
Meanwhile, a flurry of major institutional investors, including BlackRock and Fidelity Investments, have recently filed applications to launch spot Bitcoin exchange-traded funds (ETFs). If approved, it would give US investors direct access to BTC through some of the biggest Wall Street giants, and likely provide the much-needed institutional adoption boost.
Assuming it can exceed its previous record highs and taking into consideration that it is yet to witness mainstream adoption, BTC has the potential to become one of the most valuable financial assets in the world.
