This morning, the price of bitcoin rose again, this time exceeding $51,000 per coin.
Considering the number of coins in circulation, today's price action has also reached another important milestone: btc's market capitalization is once again valued at $1 trillion.
bitcoin Market Cap Reaches $1 Trillion
bitcoin price is trading at levels not seen since December 2021, currently around $51,600 per coin. Since then, new coins have been issued daily, adding to those already in circulation.
To find the market capitalization of any cryptocurrency, the formula involves multiplying each coin in circulation by the current price. With btc supplying 19,627,587 coins, the current price per coin brings bitcoin's total market capitalization to over $1 trillion.
btc at $1 trillion | BTCUSD on TradingView.com
What a Trillion Dollar Market Cap Means
To put this milestone in perspective, let's compare a list of trillion-dollar assets. Only seven companies in the world exceed this trillion dollar threshold.
Meta Platforms, the company behind Facebook and Instagram, is valued at $1.1 trillion. With 1.7 trillion dollars are Amazon and Nvidia. Nvidia chips are integral to the proliferation of ai, while Amazon dominates online retail shopping.
Next up is the undisputed search and data champion, Google, with $1.8 trillion. Higher on the list is Saudi Aramco, Saudi Arabia's national oil company, valued at $2 trillion.
Topping the list are tech titans Apple and Microsoft. Apple has a valuation of $2.8 trillion, while Microsoft's involvement in ai has led it to become the most valued company in the world at $3 trillion.
Today, bitcoin as a network is valued almost as much as social networks like Facebook and Instagram. It is half the value of one of the most annually profitable companies of all time and is worth a third of giants like Apple and Microsoft.
The first cryptocurrency in history is also gaining ground on silver, which in total is valued at around $1.2 trillion. Gold remains the most valuable asset in the world with an estimated total market capitalization of $13.4 trillion.
