BTC Hits New All-time High, and Becomes The 9th Most Capitalized Asset

News / 06.01.2021

Bitcoin (BTC) is on a roll, breaking record after record since it surpassed the $20k milestone less than three weeks ago. The leading crypto asset recently crossed $35k today and is now in the top 10 most capitalized assets globally.

Bitcoin (BTC) crosses $35,000

Bitcoin continued its bullish run in the New Year, surpassing the $30,000 mark on January 2nd. After making a massive surge to $34k, the leading coin suffered a major dip on January 4. The retracement caused fears in the market as over $1billion was liquidated from traders on major exchanges.

However, the largest cryptocurrency has managed to continue its course towards uncharted territory. This morning, Bitcoin made a massive surge in movement and quickly surpassed the $35k mark. The bullish run continued, and in the process, BTC hit a new all-time high of $36,361, according to CoinMarketCap.

At the time of publication, Bitcoin has experienced a slight correction and is trading for $34,262. The digital currency’s capitalization is now over $630 million, while its price has increased by 9% in the past 24 hours.

Bitcoin Joins the Big Leagues

Bitcoin’s recent bullish run has seen the digital asset achieve significant milestones outside the crypto space. The leading crypto is now in the top 10 list of the most capitalized assets in the world. According to Data from AssetDash, Bitcoin is the ninth most capitalized asset based on market cap. The digital asset surpassed Taiwan semiconductor and briefly overtook Alibaba Group Holding this morning.

It is preceded by the stocks of the biggest heavyweights in different sectors, including Apple, Microsoft, Amazon, Google, and Tesla. Bitcoin still has a long way to go before it catches up to Google and Amazon’s likes. However, it could soon overtake Telsa, which only has a capitalization of $696 billion.

This shows the incredible trajectory of Bitcoin, which has surpassed all records in just three weeks. Looking at the list, Altcoins are far behind except for Ethereum (ETH), which now sits at number 81 in the rankings. The leading altcoin has a $126 billion market capitalization and has enjoyed a decent bullish run in 2021.

Olowoporoku Adeniyi is a blockchain enthusiast and crypto evangelist. Currently he loves all things crypto and covers happenings within the blockchain space.