Despite a tumultuous week for the crypto market, Bitcoin (BTC) has managed to flip the market cap of tech giant Meta. According to Companies Market Cap, BTC’s market cap has reached $471.86 billion, surpassing Meta’s market cap of $469 billion.
Only 24 hours earlier, BTC’s market cap was nearly $37 billion below Meta’s market cap, sitting at $433.49 billion compared to Meta’s market cap of $469 billion. However, BTC’s market cap rose 9.7% in the past 24 hours, pushing the cryptocurrency to 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. 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, currently sitting at $24,441 USD. This surge in price has allowed BTC to overtake Meta’s market cap, and is a sign of the cryptocurrency’s increasing popularity and acceptance. It is likely that BTC will continue to rise in price and market cap in the coming weeks and months, as more investors and institutions become involved in the crypto market.