After hitting a new all-time high near $ 67,000 on Wednesday, Bitcoin's market cap briefly surpassed the total market cap of the Swiss franc.
According to data from Fiatmarketcap, Bitcoin's market capitalization was over $ 1.263 trillion when the price of the crypto asset hit an all-time high of approximately $ 67,000 on Wednesday. This briefly exceeded the value of the circulating supply of the Swiss franc by CHF 1,158,489,000,000, or approximately $ 1.26 trillion. AssetDash too liza the total of Bitcoin (BTC) market capitalization within Amazon's $ 500 billion.
The price surge that prompted Bitcoin to change the value of the franc came as exchange-traded funds linked to crypto futures, or ETFs, were being approved for trading on major U.S. stock exchanges. ProShares Bitcoin Strategy ETF started listing on the New York Stock Exchange on October 19 when BTC surged above $ 63,000 for the first time in months.
Additionally, filings with the Securities and Exchange Commission suggest that similar shares of Valkyrie Crypto Asset Manager ETF and asset manager VanEck will soon appear on exchanges. The regulatory body has yet to approve any applications for Invesco BTC futures ETFs, with Global X and Galaxy Digital also awaiting approval of funds with direct exposure to crypto.
Related: The Big Crypto Shift: Can Ethereum Overtake Bitcoin?
Bitcoin's market capitalization was already worth more than the full value of many fiat currencies. More recently, flipped the russian ruble in February, after automaker Tesla announced that it had bought a total of $ 1.5 billion worth of Bitcoin and suggested that his clients would soon have the ability to purchase his products using the crypto asset. The Brazilian real, with a market capitalization of more than $ 1.5 trillion, would be the next for Bitcoin to potentially surpass.
Although the price of ether (ETH) what's more bounced back to exceed $ 4,000 For the first time since May, BTC remains the highest rated asset with a market capitalization of $ 750 billion more than that of ETH. At press time, 18,849,193 BTC are currently in circulation.
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