Bitcoin market cap flips tech giant Meta, widens gap on Visa
Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin’s (BTC) market cap has managed to flip that of tech giant Meta.
At the time of writing, data from Companies Market Cap shows Bitcoin’s market cap has reached $471.86 billion, surpassing Meta’s $469 billion.
Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals and exchange-traded funds.
Only 24 hours earlier, BTC’s market cap was nearly $37 billion below Meta’s, sitting at $433.49 billion.
However, Bitcoin’s market cap rose 9.7% in the past 24 hours, pushing the cryptocurrency to sit in the 11th spot among top assets by market cap, just below electric vehicle maker Tesla.
On Feb. 20, Cointelegraph reported that BTC had flipped the market cap of payment processing giant Visa for the third time in history, putting it just ahead of the payments company.
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The gap between the two market caps is now more than $20 billion, though it still is quite a distance from gold, which sits in first position with a $12.59 trillion market cap, followed by Apple in second place with a $2.380 trillion market cap.
BTC’s price has risen 8.72% in the past 24 hours, sitting at $24,441.