Key Takeaways

  • Bitcoin’s market capitalization outstrips Berkshire Hathaway, surpassing $800 billion.
  • The cryptocurrency’s growth contrasts with Berkshire Hathaway’s more stable performance.
  • Bitcoin’s surge in value signifies a potential approach towards its historic peak and $1 trillion market cap.

Bitcoin has surpassed the market capitalization of Berkshire Hathaway, an American multinational conglomerate. This remarkable achievement occurred on December 4th, with Bitcoin’s market cap soaring above $800 billion.

The shift in market dynamics became evident on December 3rd when Bitcoin began its upward trajectory, outpacing Berkshire Hathaway regarding market value.

What is a Liquidity Pool in Crypto? (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

This surge was further fueled over the weekend as Bitcoin’s value exceeded $40,000, elevating its market cap beyond Berkshire Hathaway’s closing market cap of $779 billion on December 1st, based on its class A stock (BRK.A).

Despite a recent 1.3% decline in BRK.A stock, Berkshire Hathaway has maintained a year-to-date growth of 14.7%, showcasing resilience in its primary business of insurance and investments in major corporations.

In contrast, Bitcoin’s volatility has been striking, with a 20% increase over the last month and an impressive 150% growth YTD. The cryptocurrency reached over $41,000, a peak not seen since April 2022.

Bitcoin’s market capitalization, now at $811 billion, overshadows Berkshire Hathaway’s value by 4%. This growth has sparked significant discussions in the financial world, with cryptocurrency lawyer John Deaton highlighting the irony on X (formerly Twitter).

He referenced Warren Buffett’s 2018 critique of Bitcoin as “rat poison squared,” quipping:

That’s a pretty damn big bottle of rat poison.

Data puts Bitcoin as the 10th largest asset by market cap, following tech giants Meta Platforms and Nvidia, valued at $834 billion and $1.2 trillion, respectively.

Bitcoin’s ascent past the $800 billion mark disrupts traditional market hierarchies and signals a potential return to its all-time high of $69,000 seen in November 2021. This bullish trend in Bitcoin’s market cap suggests the possibility of the cryptocurrency revisiting its historic $1 trillion market cap, previously attained in February 2021.

Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she’s not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Source link