Bitcoin Soars to Near $90,000, Surpasses Silver as 8th Largest Global Asset
Bitcoin’s remarkable rally continues, as the cryptocurrency surged close to the $90,000 mark, propelling it to become the world’s eighth-largest asset. In doing so, Bitcoin overtook silver and surpassed the valuations of several major companies, including Meta, Tesla, and Berkshire Hathaway. The milestone was reported by Economic Times, highlighting Bitcoin’s remarkable $1.752 trillion market cap, which narrowly edged out silver’s $1.726 trillion.
This latest surge, which saw Bitcoin rise by 9% in a single day to $88,570, was largely fueled by a wave of optimism regarding possible crypto-friendly policies under a potential Donald Trump-led U.S. government. Many investors are anticipating that Trump’s pro-business stance might result in favorable regulatory conditions for digital currencies, especially Bitcoin, boosting its appeal as a stable, high-growth investment.
Bitcoin’s leap over several high-profile companies is another sign of its increasing influence and stability. With a market cap higher than Meta’s $1.472 trillion, Tesla’s $1.123 trillion, and Berkshire Hathaway’s $1.007 trillion, Bitcoin is not only a dominant force in the cryptocurrency world but also a serious player among the world’s most valuable assets. It’s still dwarfed by Gold, which holds a market cap of $17.6 trillion, and sits alongside tech giants like Nvidia, Apple, Microsoft, and Alphabet in the ranks of the world’s top assets.
Why Is Bitcoin Rising Now?
Bitcoin’s recent surge is driven by several interconnected factors that have created a favorable environment for its price growth:
- Optimism Around U.S. Government Policies
A significant factor is growing optimism around potential crypto-friendly policies in the U.S., especially with speculation of a pro-crypto stance under a Donald Trump-led administration. Many investors believe that a supportive government could lead to regulatory clarity, boosting Bitcoin adoption and institutional investment. A friendlier regulatory landscape could ease compliance pressures and make Bitcoin a more attractive asset for both large-scale investors and the general public. - Increased Institutional Investment
Institutional players are showing renewed interest in Bitcoin. One prime example is MicroStrategy’s massive purchase of 27,200 Bitcoin for $2.03 billion in recent weeks, marking its largest acquisition since 2020. This move signals strong confidence in Bitcoin’s long-term value and demonstrates that major companies see it as a valuable addition to their portfolios. Such purchases contribute to supply scarcity, which can further drive up prices as demand rises. - Growing Acceptance as a Hedge Against Economic Uncertainty
Bitcoin is increasingly being viewed as a “digital gold” or a hedge against traditional financial market risks. With global economic uncertainties and inflation concerns, more investors are turning to Bitcoin as a way to diversify and protect their assets. This has amplified demand for Bitcoin, pushing its value higher. - Technical Market Factors and FOMO (Fear of Missing Out)
When Bitcoin approaches milestone prices, like the current move toward $100,000, it often triggers FOMO among retail and institutional investors alike. This psychological effect can drive prices even higher as more people rush to buy in, hoping to benefit from the upward trend. The limited supply of Bitcoin, capped at 21 million coins, adds to this effect, as investors seek to accumulate a scarce asset. - Positive Sentiment and Media Attention
Major news outlets covering Bitcoin’s rise and its surpassing of traditional assets like silver further fuels interest and positive sentiment. This media coverage reaches a wider audience, attracting new investors who might not have considered Bitcoin before. As more people become aware of Bitcoin’s potential and its current trajectory, it drives up demand, further supporting the upward trend.
With these factors aligning, Bitcoin has been able to surge to near $90,000, and if they persist, it may reach even higher milestones in the near future.
Bitcoin’s Path to the $100,000 Mark
Bitcoin now stands just around $10,000–$11,000 away from the milestone $100,000 mark—a level that many investors are watching with anticipation. Alankar Saxena, Co-founder of Mudrex, noted that the cryptocurrency could potentially reach this target by year’s end, especially if the momentum holds and demand continues to surge.
Looking Ahead: Could Bitcoin Reach New Highs?
As Bitcoin inches closer to the $100,000 milestone, many are asking: will it hit this historic mark by year-end? With optimism around government policies and high-profile purchases fueling the rally, it seems possible. However, the cryptocurrency market is famously volatile, and only time will tell if Bitcoin can sustain this upward momentum.