Fun

Bitcoin’s 2023–2024 growth rate has it on track to surpass Microsoft within a year

News Feed - 2024-03-30 03:03:00

Tristan Greene5 hours agoBitcoin’s 2023–2024 growth rate has it on track to surpass Microsoft within a yearAfter Microsoft, all that’s left is gold. But Bitcoin will need a price point north of $800,000 to climb that mountain.2161 Total views20 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBitcoin has had a banner year so far in 2024. It reached a new all-time high price of $73,679 on March 13, and in the time since, it’s hung around the $70,000 threshold — putting it up more than 140% over the same time last year. 


When Bitcoin (BTC) reached its 2024 peak (so far) and new all-time high, it briefly surpassed silver as the eighth most valuable commodity in the world by market capitalization.


Related:Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply


In the current market situation, if one could fast-forward another year under the exact same growth rate, Bitcoin would reach a price of approximately $170,574 by the beginning of April 2025. This would put it ahead of silver today, as well as Amazon, Alphabet (Google), Saudi Aramco, Nvidia and Microsoft to take the second-place spot on CompaniesMarketcap’s list of the top 100 commodities by capitalization.Source: CompaniesMarketCap


While this number only holds water when imagining a scenario where Bitcoin grows and the rest of the market remains static, today’s market capitalizations can be used as a measuring stick for what Bitcoin’s potential future growth could look like.Silver


If silver’s market cap remains at its current value of $1.412 trillion, Bitcoin could surpass it again by increasing its current price point from $69,678 (as of the time of this article’s publication) to $71,732. This would give Bitcoin a total market capitalization of approximately $1.413 trillion and sole possession of the eighth-place spot on the list.Google


The Mountain View search giant currently has a market capitalization of $1.885 trillion, just $12 billion ahead of Amazon.


Bitcoin can surpass them both and claim the sixth-place spot on the list by reaching a price of approximately $95,642 to surpass a market cap of $1.885 trillion. This would put it squarely behind Saudi Aramco, which currently sits in fifth place with a cap of $1.984 trillion.Microsoft


Fourth and third on the list are occupied by Nvidia and Apple, respectively. Bitcoin will have to reach a total market value of about $2.65 trillion in order to slide into third place and have a shot at knocking Microsoft out of its second-place slot.


The number to beat there, if Bitcoin is to surpass Microsoft’s $3.126 trillion cap and reach number two on the list, is approximately $165,608 per BTC.


While this might seem lofty given its current price at just under $70,000, it’s worth remembering that the price of Bitcoin increased by approximately 144.82% year over year from April 2023 through the end of March 2024.


If Bitcoin increased by 144.82% in the next year, from its current value of $69,678, it would reach approximately $170,574. At this price, its market cap would be approximately $3.224 trillion, more than enough to overtake Microsoft.Gold


Once Bitcoin secures second place — again, assuming the entire market remained static and BTC’s price alone rose —its price would need to be approximately $800,476 per BTC to achieve a market cap of $15.15 trillion. This would beat gold’s current cap of $15.141 trillion and give the world’s first cryptocurrency the top slot on the market cap leaderboard.# Bitcoin# Cryptocurrencies# Apple# Google# NVidia# Amazon# Gold# Bitcoin Price# Silver# MicrosoftAdd reaction

News Feed

Helen Partz2 hours agoCrypto headcount surges over 100% since 2019 despite implosionsWhile industry giants like Binance hire and lay off thousands of people, other crypto heavyweights like Tether only have 60 employees.8
FTX victims will ‘never’ be whole thanks to SBF’s ‘dumpster fire’ — John Ray
Martin Young2 hours agoFTX victims will ‘never’ be whole thanks to SBF’s ‘dumpster fire’ — John RayFTX chief John Ray III wrote a scathing victim impact statement on the exchange’s co-founder, Sam Bankman-F
US Senator Launches Investigation Into ‘How Cryptocurrencies Facilitate Cybercrimes’
US Senator Launches Investigation Into "How Cryptocurrencies Facilitate Cybercrimes" A U.S. senator has launched an investigation into the rise of ransomware att
Number of Youtube Crypto Stream Scams and Fake Domains Explodes in H1 2022
Number of Youtube Crypto Stream Scams and Fake Domains Explodes in H1 2022 A report issued by Group-IB, a Singaporean cybersecurity company, has found that the number of cryptocurr
Biggest Movers: SOL Gives Up 20% Gains, as FTX Declares Bankruptcy
Biggest Movers: SOL Gives Up 20% Gains, as FTX Declares Bankruptcy Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which drop
OCC’s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away
OCC"s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away Bitcoiners on social media have panned remarks by act
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain Two Chinese state-run media outlets have published a brief news item
Bitcoin Mining Difficulty Surges to an All-Time High, Network Prints 2022’s Largest Retarget Increase
Bitcoin Mining Difficulty Surges to an All-Time High, Network Prints 2022"s Largest Retarget Increase Bitcoin’s mining difficulty reached an all-time high on October 10, whi
22 Indian Bank Branches to Begin Offering Crypto Banking Services
22 Indian Bank Branches to Begin Offering Crypto Banking Services An Indian bank is preparing to start providing crypto banking services at its physical bank bra
Biggest Movers: SHIB, LTC Marginally Higher During Volatile Start to the Week
Biggest Movers: SHIB, LTC Marginally Higher During Volatile Start to the Week Shiba inu started the week trading marginally higher, despite cryptocurrencies mostly consolidating on
Spot Bitcoin ETFs suffer third straight day of net outflows, $261M bled
Jesse Coghlan3 hours agoSpot Bitcoin ETFs suffer third straight day of net outflows, $261M bledUnited States-listed spot Bitcoin ETFs have now bled around $742 million in just three trading days.2653 Total views6 Total s
Colombia to Use Ripple Ledger to Issue Land Registry Certificates
Colombia to Use Ripple Ledger to Issue Land Registry Certificates The government of Colombia announced a new system that will allow it to use the Ripple Ledger to store and authent