Bitcoin Surpasses Saudi Aramco After Hitting New Record High

11/14/2024 02:44
Bitcoin Surpasses Saudi Aramco After Hitting New Record High

Earlier today, the price of Bitcoin topped the $93,000 level

Earlier today, the price of Bitcoin topped the $93,000 level

Bitcoin Surpasses Saudi Aramco After Hitting New Record High

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Bitcoin has now surpassed oil behemoth Saudi Aramco by market capitalization. 

Earlier today, the price of the leading cryptocurrency surged to a new record high of $93,477, according to CoinGecko data.  

As reported by U.Today, Bitcoin surpassed silver earlier this week after recording the biggest daily gain in history. 

Nvidia, Apple, and Microsoft are the most valuable individual companies. They are followed by Amazon and Alphabet. For Bitcoin to surpass Alphabet, its price would need to surge to roughly $107,000. The cryptocurrency will be able to flip Alphabet. In order to surpass Apple, the price of the leading cryptocurrency would have to skyrocket to nearly $170,000. 

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BlackRock's Bitcoin ETF Hits Another Major Milestone

Gold remains the most valuable asset by a huge margin with an impressive market cap of $17.4 trillion. 

Earlier today, Galaxy Digital CEO Mike Novogratz predicted that Bitcoin might end up surpassing gold over the next ten years. 

Novogratz, who himself is a gold holder, believes that the yellow metal is not appealing for younger generations. 

Blocksteam CEO Adam Back appears to be convinced that gold will be able to surpass the largest cryptocurrency during the ongoing cycle. This implies that the price of the top cryptocurrency would need to surge to as high as $850,000 if the gold price remains around the same. 

Meanwhile, Bitcoin ETFs are inching closer to surpassing gold ETFs in terms of total assets. 

About the author

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Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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