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Since its launch, Bitcoin (BTC), one of the youngest and most revolutionary financial assets, has been on an unprecedented rise. The world’s largest cryptocurrency has become a major part of investors’, technology experts’, and enthusiasts’ imaginations, reshaping the financial world and challenging traditional money concepts.
The 10th Largest Company in the World: Bitcoin!
As of July 5th, due to the substantial increase in its price, BTC‘s market value stands at approximately $600 billion. If Bitcoin were a company, it would rank as the tenth largest company in the world, just behind Meta ($732 billion), Berkshire Hathaway ($747 billion), Tesla ($887 billion), and Nvidia ($1.04 trillion) in terms of market value.
It’s noteworthy that Bitcoin, launched in 2009, is the youngest entity on this list. For instance, while the world’s largest company, Apple, was founded in 1976, tech giant Microsoft started its journey in 1975, and companies such as Tesla, Meta (Facebook), and Alphabet (Google) were established in 2003, 2004, and 1998 respectively.
Moreover, Bitcoin’s current market value of $602 billion is approximately half of its all-time high reached during the bull run in late 2021. At that time, Bitcoin’s price had reached about $69,000, and its market value exceeded $1.2 trillion.
Spot ETF Excitement Surrounding Bitcoin
Excitement surrounds the prospective spot Bitcoin ETF, with several major institutional investors, including the world’s largest asset management company BlackRock and Fidelity Investments, recently reapplying or applying for the first time to the U.S. Securities and Exchange Commission (SEC) to operate a spot Bitcoin exchange-traded fund (ETF). If the SEC greenlights any spot Bitcoin ETF, U.S. investors will be able to directly invest in BTC via some of Wall Street’s largest asset management companies, likely triggering a new phase of institutional adoption.
Market observers and analysts emphasize that if the SEC greenlights a spot Bitcoin ETF, it could trigger a flood of investors that could propel Bitcoin’s price beyond $100,000, making it one of the world’s most valuable financial assets and potentially catapulting it higher up in the list of the world’s largest entities.
