Bitcoin Enters the List of World’s Most Valuable Assets

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Even though the world suffered a lot in 2020, the same can’t be said for Bitcoin. The leading cryptocurrency made a splash in 2020 and its good fortunes will continue well into 2021. Just a couple of days after breaking the $30,000 record, Bitcoin pushed up the list of the world’s most valuable assets, overtaking Alibaba and positioning itself on the 9th place.

This is a huge move for Bitcoin whose rise last year was fueled by Bitcoin casinos and similar industries in the wake of worldwide lockdowns. It’s massive proof that the coin is here to stay. Add the sky-high price in the mix, and it’s clear that the world is slowly turning its attention to the long-running underdog.

Flying Higher Than Alibaba

News recently broke out that Bitcoin’s market cap volume is now higher than Chinese giant Alibaba. It’s a huge milestone for Bitcoin, with Tesla next in sight. While it’s still some way off from tech giants Facebook and Google, Bitcoin is on the right track. If its price continues to rise, interest will rise too, pushing traditional assets out of the way.

It’s crazy to think how far the cryptocurrency has come in only a decade. Its history was marred by doubt and high volatility. Bitcoin has fallen to the bottom more than once in the past couple of years, only to rise like a Phoenix from the ashes. It is now flying high, with no talk of a bubble bursting like the one in 2017.

The massive surge continued early into 2021 after Bitcoin broke the $30,000 deadlock. Many have predicted a dark future for Bitcoin after it fell to lows in 2019 and early 2020, but since the COVID-19 pandemic, the cryptocurrency has only experienced highs. It’s shattering new ones as we speak, and now, it’s on collision course with some of the world’s leading assets. If it can uphold its momentum, Tesla, Chinese conglomerate Tencent, and Facebook are next in line.

What Does the Future Hold?

Who can tell? BTC has been flying high for a long time now, with many experts expecting the price to jump double post-pandemic. It seems that those optimistic views of Bitcoin reaching $100,000 are not too far-fetched now. No one believed that the cryptocurrency can gain such momentum, but after the pandemic lockdowns, people’s distrust in fiat money and other assets paved the way for a new arrival.

And it’s not just Bitcoin that’s making moves. The leading cryptocurrency is dragging altcoins with it. Ethereum, for example, moved up the list of world’s most valuable assets too, now holding the 82nd spot. It’s up 50% since last week, passing coffee giant Starbucks on the list. The list also includes Tether, Litecoin, XRP, Polkadot, and Bitcoin Cash.

The world’s is changing right in front of our eyes. Ten years ago, Bitcoin was just an obscure digital asset no one believed in. Right now, it’s on a collision course with the world’s leading assets, and if luck would have it, it may top the list.

January 6, 2021: • No Comments

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