Bitcoin closes year with 26th largest market cap globally

Hull Invest

Bitcoin (BTC) enters the Christmas season from the 26th maximum It has a market cap of $324.68 billion, just below Mastercard’s $328.35 billion.

Meanwhile, Ethereum (ETH) ranks 77th on the list with a market capitalization of $147.6 billion, while Tesla loses its place among the top 10 to number 13 with $395.82 billion.

Market capitalization ranking

Gold, Apple and Saudi Aramco are the top three assets, with the largest market caps of $11.939 trillion, $2.103 trillion and $1.819 trillion respectively.

Microsoft, Silver, Google and Amazon followed in 4th, 5th, 6th and 7th place with market caps of $1.775 trillion, $1.0333 trillion, $1.137 trillion and $854.8 billion respectively.

Meanwhile, Meta Platforms and Samsung are ranked 30th and 31st after BTC, respectively boasting market caps of $311.31 billion and $304.89 billion.

Gold and BTC

October 24th, crypto slate Analysts have revealed that BTC and gold have achieved an 85% correlation over the past year. The findings show that these two assets increase and decrease simultaneously, at the same rate with 85% accuracy.

Market data on Nov. 4 also showed that BTC reacted better than gold and the Nasdaq to the Fed’s rate hike of 0.75%. In response to the rise, gold fell 0.68% and the NASDAQ fell 4.97%. Meanwhile, BTC has increased by 0.55% over the same period, suggesting that BTC is a much safer asset than NASDAQ or gold.

The Correlation Between BTC And Gold Was Also Noted By Prominent Names In Crypto. Bitcoin: The Future of Money? Dominic Frisby suggested buying BTC and gold together to combat inflation, but ETH founder Buterin relies solely on BTC.

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