The bitcoin market value is closer to gold, silver and Apple
As the bitcoin price continues to rise, the market capitalization of this asset also tries to be as close as possible to the market capitalization of traditional assets such as gold.
Bitcoin now has a market value of $ 1.07 trillion, reaching 9.85% of the market value of $ 10.9 trillion gold. The market value of this cryptocurrency has increased simultaneously with its value since the fourth quarter of 2020. Currently, the market capitalization of this digital currency represents about 53.08% of Apple's $ 2.07 trillion market value. On the other hand, with a market value of $ 1.42 trillion, Bitcoin has been able to reach 76.09% of its market value.
Although Bitcoin is still a long way from reaching the value of the gold market, its proponents believe that as its acceptance by organizations increases, this asset will eventually become a source of excellent value storage.
The resilience of bitcoin and gold was tested during the recession created by the corona pandemic in 2020. The value of bitcoin rose after falling alongside traditional markets in March last year. On the other hand, in August, gold traded above $ 2,000 for the first time, reaching its highest level.
Following the collapse of traditional markets, the situation has strengthened the relationship between gold and bitcoin more than ever. The more people invest in this asset, the more its price will stabilize. It is worth noting that Bitcoin has sufficient liquidity and can be stored with high security with a guaranteed supply limit.
Both assets are out of government control, but gold is in the hands of central banks, and this potentially means manipulating its price. Therefore, Bitcoin proponents believe that the government's lack of control and manipulation of this asset will mean that this asset will eventually overtake gold.
At the same time, Bitcoin fans believe that the market value of Bitcoin will soon even surpass that of Apple. As bitcoin grows in popularity, this could mean wider acceptance in the future.