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  • October 17, 2021

Bitcoin is now the world's eighth most valuable asset, with a market cap of $1.31 trillion.

At 1:30 a.m. (EST) on Friday morning, the price of bitcoin has crossed the $60K mark.

The leading crypto asset’s latest price jump has made it so bitcoin's overall market valuation of $1.119 trillion has now surpassed Facebook's market capitalization.

The digital asset is also approaching the total net worth of all silver in the world, as bitcoin is 17.3 percent away from surpassing the total capitalization of the precious metal.

Bitcoin surpasses Facebook's whole value, but it still needs to gain more than 17.33% to surpass silver.

Bitcoin is currently the world's ninth most valuable asset, just ahead of the market capitalization of the corporation Facebook. According to data from the website companiesmarketcap.com, Bitcoin has a market capitalization of $1.119 trillion, whereas Facebook has a market capitalization of $926.27 billion.

It's not the first time bitcoin (BTC) has outperformed Facebook in terms of total value; according to Bitcoin.com News, BTC outperformed Facebook during the first week of January this year.

On Friday, October 15, 2021, the web portal companiesmarketcap.com will be launched. At 10:15 a.m., a screenshot was obtained immediately before bitcoin crossed the $60K mark for the second time (EST).

Interestingly, BTC was only trading for $41,462 per unit at the time, while Facebook's market cap was $758 billion. BTC and Facebook's market capitalizations are now higher, with Facebook valued at $926.27 billion.

In addition, BTC was yet to beat Tesla in January 2021, but current market valuations suggest BTC is two spots ahead of the electric car manufacturer. BTC is also ahead of Berkshire Hathaway (BRK-A), which has a market capitalization of $636.97 billion as of Friday.

The next asset BTC must surpass is silver (Ag), which is now valued at $1.313 trillion. To get over the whole net worth of the global silver supply, BTC's $1.119 trillion valuation must climb 17.33 percent.

Aside from silver and gold (Au), BTC is trailed by Apple, Microsoft, Saudi Aramco, Alphabet (Google), and Amazon. BTC has a long way to go to catch up to gold, the most valuable precious metal, since it has to gain more than 905 percent simply to outperform gold's worldwide value.

To beat Apple, Bitcoin must gain 112 percent – If Bitcoin beats Apple, Satoshi would become the world's wealthiest person.
 
To beat Apple (AAPL), the second most valued global asset, the leading crypto-asset needs increase more than 112.3 percent. BTC would be the world's second most valuable asset at that stage. BTC would have to be valued at $125,257 per unit to overtake AAPL in terms of overall market capitalization.
 
Of course, that $125K estimate is based on the current quantity of BTC in circulation; by then, additional bitcoins will have been produced, lowering the $125K estimate.
 
To outperform gold, each bitcoin would have to be worth $619,500, based on the current circulating quantity of 18,844,512 BTC. Another noteworthy fact is that if Bitcoin ever outperforms Apple and approaches the whole market value of gold, Bitcoin's unknown creator will become the world's richest person (or group).