The most important cryptocurrency on the market managed to position itself above the ruble on the global scale of currencies with the highest capitalization, after a sharp fall of the Russian currency to the lowest values seen in the last 30 years.
The simultaneous recovery of the price of Bitcoin of almost 15 percent in the last few days later raised it above the capitalization of the Mexican peso and the Thai baht.
With this increase, Bitcoin enters the top 15 most valuable currencies, surpassing the national currencies of countries such as Saudi Arabia, Israel, and Sweden.
The next opponent to win is the Swiss franc. A growth of about 50 percent would be needed for Bitcoin to win a new step on the global scale.
If Bitcoin is compared to the market capitalization of the world’s largest companies and commodities, the cryptocurrency has already surpassed the overall market capitalization of all palladium in the world. It is the ninth most valuable asset in the world, surpassing Meta, Berkshire Hathaway, Visa, MasterCard…
Tesla ahead of Bitcoin, gold still on top
Above Bitcoin is the electric car maker Tesla – which has large amounts of money invested in Bitcoin – and then silver as a commodity with a capitalization above $1.3 trillion.
The entire crypto market would rank fifth with a total value of $1.9 trillion. Gold is the undisputed king with a capitalization of $12.1 trillion.
Current events in Ukraine have occupied the attention of cryptocurrency communities. According to estimates, Ukraine has received around $50 million in funding so far in cryptocurrencies alone.
Bitcoin trading, on the other hand, has risen sharply among Russians, who are protecting themselves from the devaluation of their own currency.