Bitcoin: Now Bigger Than Meta… and Darth Vader?
Hands up if you had Bitcoin taking over Meta in the market cap race? Yeh, us neither. Guess the market’s recovery continues for the cryptocurrency that never seemed to want to go away, it’s just all the more fun!
As of today, Bitcoin’s market cap is now estimated at $250 billion, giving it the lead in front of Meta at $245bn. Who’d have thought, eh? Especially when many experts wrote off the cryptocurrency as doomed a good few years back.
So What’s Been Happening?
It appears that it’s been a combination of a few factors that have led to the cryptocurrency giant’s recent success. Here are just a few of the big ones:
- The trend of institutional investors like S&P 500 industries buying up large chunks of Bitcoins
- The wider public’s increasing willingness to use Bitcoin as cash, now that it’s more accepted
- The financial woes of many smaller cryptocurrencies, making it more attractive in comparison
With entities like Microsoft, Mastercard and Tesla jumping on the bandwagon now, it looks like Bitcoin might be here to stay. It’s probably had it’s toughest test yet, and came out on top. Pretty impressive given many of its peers haven’t survived.
But don’t worry, doesn’t mean Meta is doomed. Definitely not. People are still looking to invest in the altcoin, with recent Coinbase listings being particularly positive for the currency. It’s just that for now, it’ll have to bow down to the cryptocurrency giant that is Bitcoin.
What Does This Mean For All Of Us?
Where this will take us in the coming years, who knows? Crypto investment is still seen as a bit of a risky business (with Bitcoin, sometimes the prices change quicker than the speed of light). Most experts suggest to invest of a few different types of currency, keep it safe and don’t be tempted to invest too much.
But if you’re feeling brave, and want to dive into the crypto world, at least now you know that there is a clear market leader when it comes to getting the biggest bang for your buck.
Yup, it looks like Bitcoin will continue taking the market by storm. You can’t help but wonder what would Darth Vader have to say about that?!
*This article is for informational purposes only. No actual currency was harmed in the writing of this article.
