Bitcoin surpasses Facebook in market capitalization. Here’s what you need to know


Bitcoin surpasses Facebook in market capitalization: key points

Bitcoin’s rise comes after China’s decision to ban cryptocurrency

The last few days have not been good for Facebook. Mark Zuckerberg’s personal fortune was slashed by nearly $ 7 billion after the social media app, WhatsApp and Instagram went down. Now, the platform has lost its status as the sixth most valuable asset to Bitcoin. Bitcoin, which is almost identical to cryptocurrency today, has overtaken Facebook in terms of market capitalization. According to Asset Dash, Bitcoin’s meteorite has risen 360 percent in property value over the past year, pushing Facebook to seventh place. During the same period, Facebook rose only 22 percent.

Bitcoin’s price rise is not at an all-time high, hitting $ 64,000 in mid-April 2021. However, its current market capitalization has highlighted big names like Tesla and JPMorgan.

Bitcoin values ​​soared after a dry spell due to China’s decision to ban cryptocurrency and regulatory issues and tax reporting requirements in other countries. However, the Swiss government’s recognition of the country’s first cryptocurrency investment fund helped boost cryptocurrency.

Also, Bitcoin is not new to best performance. Bitcoin is one of the best performing assets of the last decade. Now with Facebook falling out of its place in 2021, Bitcoin seems to be on the right track for this decade as well.

Facebook, on the other hand, saw a 5 percent decline on Monday after experiencing more than six hours of downtime in the company’s three processors.

Amazon, Google, Saudi Aramco, Microsoft and Apple top the list ahead of Bitcoin in the Asset Dash list. As of 3.30pm on October 7, 2021, Apple has a market capitalization of $ 2.348 trillion. Although Bitcoin has a market capitalization of $ 1.022 trillion, Facebook has an estimated market capitalization of $ 953.0 billion.

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