As Facebook goes down, Bitcoin is still up and surpasses the social media network in market capitalization.
Today, Bitcoin achieves another big milestone by surpassing Facebook in market capitalization at over $929,014,620,160 at the time of writing, according to Asset Dash.
Even though Bitcoin has had some setbacks in price earlier this year, BTC continues to rise rampantly. In the past year, Bitcoin is up over 360%, compared to Facebook which is only up 22%. Facebook is just the next giant slain in Bitcoin’s path to becoming the world’s most valuable asset. Note that the comparison here is that of Facebook the publicly traded company and Bitcoin, the monetary asset and distributed network.
Bitcoin was the best performing asset of the last decade and has started off this decade really strong, which poises BTC to potentially becoming the best performing asset of this decade as well.
As we go into Q4 of this year, Bitcoin is primed to capture even more value and grow exponentially higher than what it is today. As we can see below, Bitcoin typically tends to perform well in Q4 of previous years. Q4 2020 was at the beginning of this current bull run we find ourselves in today. Many are predicting an even higher leg up this Q4 due to many circumstances such as the expansion of the monetary supply by central banks, El Salvador making bitcoin legal tender and adding it to their balance sheet, BTC being taken off exchanges by long term holders, and more.
What will happen in Q4 of 2021 is anyone’s guess at this moment, and just about anything is on the table.
Ranking BTC against the top stocks, it’s clear that Bitcoin is slowly climbing its way to the top of the list. With Bitcoin leapfrogging Facebook, that now puts it in 6th place, right behind Amazon. The next obstacles after that will be in order: Google, Saudi Aramco, Microsoft, then Apple.