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Bitcoin now world's 8th largest asset, BTC approaching $1 Trillion market Cap

 

Bitcoin (BTC) hit a new all time high above 52,000 on February 17, as BTC rises to become world's 8th most valuable asset, closing in on the major milestone of $1 trillion by market cap.


Bitcoin (BTC) officially overtook Chinese tech giant Tencent on the list of the most valuable assets by market cap, to become the world's 8th largest asset with over $950B in market cap, as BTC hit a new all-time above $52,000 for the first time in history.


Bitcoin has risen over recent months to become worth more than some of the world’s most prominent companies, banks, and multinational entities. These include JP Morgan, Visa, Samsung, Warren Buffet’s Berkshire Hathaway, Elon Musk’s Tesla, Facebook, and now also Tencent.


It is an impressive run by the world’s largest cryptocurrency, but like Elon Musk would say: “In retrospect, it was inevitable.“ With a global macroeconomic state of affairs characterized by relentless fiat money printing by central banks, rising inflation, economic uncertainty in the shadows of the corona pandemic, the moment is ripe for Bitcoin.


Actually, BTC was born out of the financial crisis of 2008 and created to become a new and predictable safe haven for the world’s financial system, where the financial policy of BTC is written in stone, and with a finite supply not to be altered.


This fact is one of Bitcoin’s finest qualities as a monetary system, coupled with its decentralized and permissionless network, making it a near impossible target for governments or regulators to even attempt to shut down.

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