Bitcoin Surpasses Saudi Aramco, Becomes 7th Largest Global Asset with Market Cap of $1.81 Trillion
This week, Bitcoin reached an unprecedented milestone by surpassing Saudi Aramco, positioning itself as the world’s 7th largest asset with a market cap of $1.81 trillion. This surge in valuation has propelled Bitcoin above the oil giant, currently valued at $1.79 trillion, following its recent climb past both Silver and Meta. Bitcoin now stands just behind Nvidia, Apple, Microsoft, Amazon, and Alphabet in the global rankings of top assets.
Bitcoin’s latest ascent marks a year of extraordinary growth, fueled by significant developments in institutional adoption. In the U.S., the introduction of the first crypto-based ETF has amplified Bitcoin’s appeal among investors and added substantial momentum to its rise. Meanwhile, investors are closely watching the 2024 presidential election, with expectations that a pro-crypto administration could further bolster the digital asset’s market position.
This remarkable week saw Bitcoin hit an all-time high of $93,200 on Wednesday—its fourth record in just seven days. The cryptocurrency has surged by over 23% in the past week alone, underscoring strong demand and growing mainstream acceptance. As Bitcoin gains more institutional interest and continues its upward momentum, it’s firmly positioning itself in the competitive ranks of the world’s most valuable assets.
