Bitcoin now has the eighth largest market capitalization, surpassing Visa and LVMH

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The higher the market valuation of a cryptocurrency, the more influential it is believed to be. This is why many people consider market capitalization to be the most crucial factor when deciding how to rank various cryptocurrencies.

Since the beginning of the year, the value of Bitcoin It has risen by leaps and bounds, causing its market capitalization to skyrocket to the point of surpassing the market capitalizations of several large companies around the world.

In recent years, the popularity of Bitcoin has skyrocketed. Due to its meteoric rise in value, Bitcoin has outperformed some of the most established and well-known companies in the world. This year alone, three of the most well-known brands in the technology and TradFi industries have been surpassed by the OG cryptocurrency.

Bitcoin outperforms Visa and LVHM

According to statistics compiled by CMC, Bitcoin’s market valuation is $539.16 billion as recorded on April 7. Bitcoin now has the eighth largest market capitalization, surpassing Visa ($465.13bn) and LVMH ($495.84bn).

Apple’s $2.605.24 billion valuation puts it well ahead of Microsoft’s $2.170.61 billion valuation and is at the top of the list. Plus, it’s just $20.29 billion away from passing Meta and moving to number seven on the list.

However, on March 14, Bitcoin Market Valuation Passed $469 Billion Metawhich marked a major milestone for the cryptocurrency.

While Bitcoin’s value has risen recently, it is still 59% below its all-time high of $69,044 set on November 10, 2021. If the price approaches that level, it will undoubtedly start to rise rapidly.

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