KEY POINTS
- Bitcoin's next target is to unseat Google in the $2 trillion market cap ranks
- The cryptocurrency toppled silver then Saudi Aramco in the ranks last month
- $BTC is currently challenging $104,000 as the community celebrates
Bitcoin, the father of all cryptocurrency, has finally breached $100,000 after the BTC community patiently waited for a few weeks since digital asset first surged significantly after the U.S. elections.
Aside from breaking above $100,000, Bitcoin has also joined big tech behemoths Amazon and Google (Alphabet) in the $2 trillion market cap club.
$BTC Rises Above the Stagnant Waves
Silence wrapped the Bitcoin community for around two weeks as hype around a pro-crypto government died down, but late on Wednesday night, BTC moved, breaking above $100,000 and is currently challenging $104,000.
The coin surged by nearly 8% in the last 24 hours and is up on a 51.4% 30-day rally.
BTC's sudden spike wasn't unexpected, even with stagnant movement after the U.S. elections. Many Bitcoiners have projected that the digital currency will hit the $100,000-mark before the year ends.
Bitcoin is trending on X as the community celebrates one of the asset's most significant milestones since it was first introduced to much skepticism in 2008 by pseudonymous creator/s Satoshi Nakamoto.
The Bigger Story
Bitcoin's feat is nothing to ignore – after all, the world's first decentralized cryptocurrency faced doubts amid the planting of FUD (fear, uncertainty, and doubt) among skeptics who still believe BTC can't be the future of currency.
However, Bitcoin is now on a different pedestal. It has joined big tech greats Amazon and Alphabet among companies that have a market capitalization of $2 trillion and above. BTC is worth over $2.036 trillion as of early Thursday.
To further understand the gravity of the said accomplishment, Saudi Aramco, the world's largest oil producer, is worth over $1.796 trillion, while silver is at $1.788 trillion, and Facebook parent Meta has a market value of $1.549 trillion.
Electric vehicle giant Tesla is valued at $1.148 trillion, and chips titan TSMC is at around $1.040 trillion. Bitcoin is now a trillion-dollar richer than Berkshire Hathaway ($1.010 T), and more valuable in the billions compared to veteran retail giant Walmart ($759 billion).
Not Leaving Everyone Behind
In Bitcoin's journey toward the top, it has always taken with it some altcoins. The most valuable digital currency pulled up other altcoins, including Ethereum (ETH), which climbed nearly 5% in the last day, and SUI, which gained 7% in the rally.
It remains to be seen whether the projections of some experts regarding BTC potentially passing $200,000 before the year ends will come to play. For now, the crypto space is in full celebration mode as memes flood Elon Musk's X.
There is going to be a 100K Party. 🚀https://t.co/Vo52KQZRe5
— Michael Saylor⚡️ (@saylor) December 5, 2024
