Bitcoin overtakes Meta in Market cap ranking

Bitcoin's market capitalization has surpassed that of tech giant Meta, according to data from Companies Market Cap. The cryptocurrency's market cap climbed 9.7% in the past 24 hours, pushing it to the 11th spot among top assets by market cap, just behind electric vehicle maker Tesla. At the time of writing, Bitcoin's market cap was $471.86 billion, while Meta's market cap was $469 billion.

Bitcoin's market cap had been nearly $37 billion lower than Meta's just 24 hours earlier, at $433.49 billion compared to Meta's $469 billion. However, the cryptocurrency's recent surge has helped it flip the market cap of several companies, including payment processing giant Visa.

Despite a turbulent week for cryptocurrencies following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin's market cap has continued to climb. Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals, and ETFs.

While Bitcoin's market cap is significant, it still falls far behind the top two assets by market cap. Gold currently has a market cap of $12.59 trillion, followed by Apple at $2.380 trillion. Nonetheless, Bitcoin's recent gains have cemented its position as a major player in the financial world.

As of the time of writing, Bitcoin's price had risen 8.73% in the past 24 hours, reaching $24,473 USD. Despite its volatility, many investors continue to view Bitcoin as a valuable asset and a potential hedge against inflation.