{"id":113626,"date":"2021-02-19T22:38:56","date_gmt":"2021-02-19T22:38:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113626"},"modified":"2021-02-19T22:38:56","modified_gmt":"2021-02-19T22:38:56","slug":"bitcoins-market-cap-flipped-tencent-on-its-way-to-1-trillion","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoins-market-cap-flipped-tencent-on-its-way-to-1-trillion\/","title":{"rendered":"Bitcoin\u2019s market cap flipped Tencent on its way to $1 Trillion"},"content":{"rendered":"<p>At approximately $1 trillion, Bitcoin\u2019s market cap has blown past Tencent, which holds a valuation of roughly $917.8 billion at time of publication, according to AssetDash rankings.\u00a0 \u00a0<\/p>\n<p>Crypto\u2019s largest digital asset is now sixth on AssetDash&#8217;s list of top market cap companies across the globe. Google, officially known by its parent entity, Alphabet (GOOGL), holds the fifth spot with a market cap of approximately $1.4 trillion at time of publication.<\/p>\n<p>&#8220;After reaching a new all-time high price mark, bitcoin surpassed Chinese tech giant Tencent, moving it up to the #6 spot in the world among publicly traded companies,&#8221; CoinSmart co-founder and CEO,\u00a0Justin Hartzman, told Cointelegraph, adding:<\/p>\n<blockquote><p> &#8220;This is a strong indicator of the increased value, trust and adoption of bitcoin and the cryptocurrencies industry. Many analysts are saying this is the year bitcoin will surpass $100k and I don\u2019t think that speculation is too far off.\u201d<\/p><\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/196be597-5127-4f83-a44c-8f91fee1a0ab.png\"><\/p>\n<p>In October, Bitcoin surpassed PayPal, taking the 21st position on the leaderboard with a market cap just shy of $240 billion. The coin has grown substantially since then. Bitcoin has broken past Tencent in market cap rank before, although market caps have changed since then. At time of publication, BTC\u00a0 ranks above Tencent, Tesla and Facebook.\u00a0<\/p>\n<p>Crypto&#8217;s pioneering asset has enjoyed a significant rally since falling to $3,600 in March 2020 during a pandemic-related crash. The coin&#8217;s run picked up speed in the latter half of 2020, during which a number of mainstream financial entities\u00a0announced their Bitcoin purchases. One of the more notable entrants has been MicroStrategy, whose CEO, Michael Saylor, has advocated significantly for Bitcoin. <\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-s-market-cap-flipped-tencent-on-its-way-to-1-trillion\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At approximately $1 trillion, Bitcoin\u2019s market cap<\/p>\n","protected":false},"author":3,"featured_media":113625,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin\u2019s market cap flipped Tencent on its way to $1 Trillion - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitcoins-market-cap-flipped-tencent-on-its-way-to-1-trillion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s market cap flipped Tencent on its way to $1 Trillion - 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