Reaching $ 1 trillion, Bitcoin's market cap surpassed that of Tencent, which has a valuation of around $ 917.8 billion according to AssetDash's ranking.
The largest crypto is now sixth in AssetDash's ranking of companies with the largest market capitalization in the world. Google, officially known as its parent entity Alphabet (GOOGL), ranks fifth with a market cap of approximately $ 1.4 trillion.
CoinSmart co-founder and CEO Justin Hartzman explained to Cointelegraph:
"After reaching a new all-time high, Bitcoin surpassed Chinese tech giant Tencent, ranking sixth in the world among listed companies.
This is a strong indicator of the rise in value, trust and adoption of the Bitcoin and cryptocurrency industry. Many analysts argue that this will be the year BTC surpasses $ 100,000, and I don't think this speculation is that far from reality. "
Source: CoinSmart
In October, Bitcoin overtook PayPal, reaching the 21st position in the ranking, with a market cap of just under 240 billion dollars, but since then BTC has grown significantly: at the time of publication of this article, BTC is above Tencent. Tesla and Facebook.
The asset has been undergoing a significant rally since it fell to $ 3,600 in March 2020 during a general collapse linked to the pandemic. BTC resumed running in the second half of 2020, when a number of mainstream financial firms announced they had bought Bitcoin. One of the major players to enter the market is certainly MicroStrategy: the company's CEO, Michael Saylor, has released numerous statements in support of Bitcoin.