Today, Bitcoin is making another major breakthrough by surpassing Facebook in market capitalization by more than $929,014,620,160 at the time of writing, according to Asset Dash.
Although Bitcoin experienced some price reversals earlier this year, BTC continues to rise significantly. In the past year, Bitcoin is up more than 360%, compared to Facebook, which is only up 22%. Facebook is just the next giant slaying Bitcoin’s path to becoming the world’s most valuable asset. Note that the comparison here is a comparison of Facebook, a publicly traded company, Bitcoin, a cash asset, and a distributed network.
Bitcoin has been the top performing asset of the last decade and it started this decade on a strong note, which makes BTC likely to become the top performing asset of this decade as well.
As we enter the fourth quarter of this year, Bitcoin is poised to gain more value and grow exponentially higher than it is today. As we can see below, Bitcoin typically tends to perform well in the fourth quarter of previous years. The fourth quarter of 2020 was at the beginning of this current uptrend that we find ourselves in today. Many are anticipating a higher rise in the fourth quarter due to several circumstances such as an expansion in the money supply by central banks, El Salvador making bitcoin legal tender and adding it to its balance sheet, where bitcoin is withdrawn from exchanges by long-term holders, and more.
What will happen in the fourth quarter of 2021 is anyone’s guess at the moment, and just about anything is on the table.
By ranking BTC against the top stocks, it is clear that Bitcoin is slowly climbing its way to the top of the list. With Bitcoin overtaking Facebook, this now puts it in sixth place, just behind Amazon. And the next obstacles after that will be in order: Google, Saudi Aramco, Microsoft, and then Apple.