The forecast debate on how long it will take to get to $ 70,000 or $ 100,000 is now open. And today already in the market they wonder how close bitcoin is to being the main asset in the world by market capitalization. According to private estimates, it has already climbed, within the world top ten, to eighth place, exceeding US $ 1.2 trillion in market value (when it exceeded US $ 65,000) and seems to be pushing elbows to get into the gates of the top five. But of course it won’t be easy.
Who are the top five by market capitalization?
The ranking is led by gold with a market value of more than US $ 11.3 trillion and well behind the shares of Apple and of Microsoft with $ 2.5 trillion and $ 2.3 trillion respectively. Saudi oil company Saudi closes the top five Aramco with almost $ 2 billion and Alphabet (Google) with more than $ 1.9 trillion. So bitcoin still has a long way to go to aspire to get into the top five, but it already occupies a not inconsiderable place on the heels of silver that occupies the seventh place.
Appetite
Beyond the forecasts on the price of bitcoin, it is unavoidable that “money does not sleep” and proof of this is the interest and appetite that it arouses among investors of all caliber. But the frenzy for criticism does not stop as market numbers show that investment products in digital assets received new funds last week for a total of US $ 1,470 million, this is the highest figure registered until the date, in the heat of Debut of ProShares’ first Wall Street Bitcoin futures traded fund “BITO”. The previous weekly record was recorded in February with entries totaling $ 640 million.
With these data, inflows so far this year amount to US $ 8,000 million, far exceeding the record reached in 2020, of US $ 6,700 million, according to data from CoinShares. It should be noted that of the total new inflows of funds last week, bitcoin received 99%, of which $ 1.24 billion were in the U.S. Bitcoin products also registered inflows in other regions by a total of $ 138 million, although there were signs of profit-taking as some older investment products posted exits. It is worth noting that when bitcoin traded at US $ 67,000, the total assets under management set a new record, exceeding US $ 79,000 million.
Meanwhile yesterday the US Treasury, in charge of Janet Yellen, warned that provide the SEC with authority to regulate dollar-pegged cryptos (stablecoins), but at the same time came the support of the founder of Tesla, Elon Musk, who opened the door to accept payments in bitcoins again and that of Mastercard that announced that it integrates in its payment network the option to buy, sell and hold cryptocurrencies at through an integration with the Baktt platform. Thus, bitcoin climbed above $ 62.0000 again.
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