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Bitcoin Surpasses Silver's Market Cap In Just 15 Years—Here's How Long It Took Other Giants To Reach This Milestone

Bitcoin (CRYPTO: BTC) has reached a new milestone, surpassing the market cap of silver and becoming the world's eighth-largest asset by valuation.What Happened: Currently valued at $1.74 trillion, Bitcoin’s swift rise contrasts sharply with the long-standing value of silver, which has a market cap of approximately $1.71 trillion, according to data.This feat is especially notable considering Bitcoin, launched in 2009, reached this valuation in less than 15 years, while silver, a precious metal valued since ancient times, has accrued value over millennia. The stark contrast in their timelines highlights Bitcoin's rapid growth and its increasing adoption as a store of value.This valuation positions Bitcoin just behind global giants in the corporate world. Amazon (NASDAW: AMZN), the e-commerce and cloud computing powerhouse, holds the sixth spot with a market cap of $2.17 trillion, and Saudi Aramco, the state-owned oil giant from Saudi Arabia, ranks seventh with $1.8 trillion. These companies represent industries with substantial economic influence – Amazon reshaping retail and technology services, and Aramco underpinning the oil-dependent economies worldwide. Bitcoin, a decentralized digital asset with no central authority, now ranks close to these established corporations in terms of market value.To understand the significance of Bitcoin’s rapid growth, it helps ...Full story available on Benzinga.com

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Published by: benzinga

Read full article here: https://www.benzinga.com/markets/cryptocurrency/24/11/41921717/bitcoin-surpasses-silvers-market-cap-in-just-15-years-heres-how-long-it-took-other-giants-