- Bitcoin has climbed to the 9th position in global market capitalization rankings, surpassing Meta Platforms (Facebook)
- With a market cap of $146 trillion and a price of $73,800 per Bitcoin, the cryptocurrency has edged out Meta which holds a market cap of $144.5 trillion
- The crypto market’s bullish momentum is attributed to optimism surrounding Donald Trump’s win in the 2024 presidential elections
Bitcoin has climbed to the 9th position in global market capitalization rankings, surpassing Meta Platforms (Facebook) amid a rally driven by optimism surrounding Donald Trump‘s win in the 2024 presidential elections. The cryptocurrency continues to reach new highs with each election cycle, demonstrating strong investor sentiment and interest.
Bitcoin’s Market Cap Overtakes Meta
With a market cap of $1.46 trillion and a price of $73,800 per Bitcoin, the cryptocurrency has edged out Meta which holds a market cap of $1.445 trillion. This is not the first time Bitcoin has surpassed Meta, having also overtaken the company back in March after hitting a record high above $73,000.
Leading Assets by Market Capitalization
The list of top assets by market cap includes major technology giants and precious metals, with Gold leading at $18.359 trillion, followed by NVIDIA at $3.431 trillion and Apple at $3.377 trillion. Other leading companies include Microsoft, Amazon, and Alphabet (Google).
Bitcoin’s Recent Price Surge
Bitcoin’s recent surge of 7.33% demonstrates the strong market sentiment and growing interest among investors, positioning it ahead of Meta and just behind Saudi Aramco in 8th place. The market seems to have reacted in advance to Trump’s earlier hints about potentially designating BTC as a strategic reserve asset. If Trump wins, BTC could continue driving the market higher without major pullbacks, potentially reaching even greater highs.
Outlook for 2025
The crypto market has been on fire with BTC hitting an all-time high of $75k after touching its previous record of $73.5k set back on March 14. Notably, BTC has now navigated three election cycles since its inception in 2009, each followed by rallies to new highs, with prices never dipping back to pre-election levels. We expect this bullish momentum to hold strong as we head into 2025.
Trump-Themed Memecoins See Gains
As Trump-associated meme coins are surging, those tied to Kamala Harris have experienced significant declines in the past 24 hours. The MAGA TRUMP token, the largest political memecoin associated with Trump, has posted an impressive gain of 20% over the last 24 hours. Similarly, President Trump (MAGA) token has gained more than 530% in the past day. In contrast, Harris-themed tokens like KAMA and MAWA have plummeted between 70-80% over the past day.
Conclusion
With Trump set to return to the White House, the crypto market is reacting positively. Bitcoin continues reaching new highs with each election cycle, retaining its bullish momentum. As we head into 2025, BTC seems poised to continue driving the market higher, boosted by Trump’s crypto-friendly policies.
