Bitcoin Surpasses Tesla, Ranks 11th Globally

JollyGood

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If we have investors who are not comfortable with investing in Bitcoin because they (wrongly) associate it with criminal activity as a result of negative press coverage, they will put their efforts in to traditional stocks and shares. The more people become aware of crypto and Bitcoin specifically, the market will grow more and until then they will continue to miss out on opportunities because of ignorance.

As you rightly stated regarding altcoins, there has been a healthy market where innovations include staking and contracts make it an option for those deciding to avoid investing in Bitcoin. As long as there is diversity as options, investors should be happy but they should do their research before going proceeding.

Quote from: Fivestar4everMVP on October 28, 2023, 10:24:24 AM

Well, you are right, a market where competition or alternatives does not exist, is not complete, and I bet that those participating in such a market will blindly lose a lot of opportunities without even knowing it.

I believe this is why we have bitcoin, which is the main and original cryptocurrency, and we have altcoin, for those who are looking for an alternative to bitcoin in cryptocurrency investments and trading.

And when we come down to worldwide investment assets in general, we have company shares and bonds, we have the real estate, we have land and properties, we have precious metals, we have cryptocurrencies which happens to be the latest innovation, and so on.
And coming to shares, tesla fall under it, and coming to cryptocurrencies, bitcoin fall under it, all this are investment opportunities created for man, Anyone anybody is comfortable with, he or she will go ahead and invest in that area, this is the beauty of choices, alternatives, and diversity.

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What a growth Bitcoin enjoyed but this is not surprising at all as more and more people as well as investors are recognizing the validity and value of Bitcoin in today's world. The huge market capitalization of Bitcoin is a reflection of how people are now perceiving this cryptocurrency or digital money which is now comparable to the real gold. Amazing to see something that we can never touch, smell, see and feel can this be game-changing in many aspects. I am looking for a bigger growth ahead for the next 15 years.

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That's going to drop as quickly as it's gone up, when the prices go down again so this isn't really a big deal but the big deal is the fact that bitcoin although not yet globally adopted, already is competing with the biggest companies in terms of capitalization, imagine the scale it will climb to when the adoption increases, I am sure we're going to be really surpriseda and we probably can't believe it even when it finally happens.

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Quote from: Relonage on October 26, 2023, 02:07:29 AM

According to the latest data from 8marketcap, Bitcoin's market capitalization has surpassed that of Tesla, now ranking as the 11th largest global asset by market value. Bitcoin's market capitalization is approximately $676.6 billion with a 14.13% increase in the past 24 hours, while Tesla's market capitalization stands at around $673.1 billion with a 0.04% increase in the same period. This sounds crazy.

It will soon be number one by market cap. The growth rate already states the potential. I do not think any company in the world had ever grow or can grow as a faster rate than this.

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Been a while since I’ve seen these market cap posts of bitcoin surpassing some large cap stock. Very strange how they seem to only pop up in a bull market and never in a bear market.

Like I said in the past, it’s not suppose to be compared to a stock because it’s more of a commodity or currency. A stock is different bexause it’s owner ship of a physical company and whether the company makes a profit or not the value of the stock varies. Bitcoin isn’t considered a security so it’s completely different.

FinneysTrueVision

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Tesla's market cap isn't based on anything rational but rather on easy access to fiat money which is created out of nothing. Facebook/Meta losing hundreds of billions in market cap last year after their disastrous metaverse flop shows how easily this paper value can disappear. Bitcoin is something which creates real lasting value in society so I expect it to eventually surpass the market capitalization of all these companies whose value is pumped through infinite money printing.

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Bitcoin is a global currency, the world's asset, while Tesla or Apple are just a company, so this comparison is lame and does not prove anything. If we want to compare, we should compare bitcoin with gold, real estate, and to make it even bigger, compare the cryptocurrency market with the stock market. And obviously, bitcoin and cryptocurrency are still nothing compared to other assets, but in terms of growth, we have the right to be optimistic about everything because no asset has grown as well as bitcoin.

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It's not crazy and it's fundamentally wrong to compare Bitcoin to stocks. As most of the members above pointed out, Bitcoin is completely different from stocks and it's wrong to compare them.

Bitcoin is a very volatile asset, so it is not a measure of whether it will outperform Tesla during this particular period of time or not. Bitcoin will beat larger companies in terms of market capitalization in the long run, but this is not a measure at all of Bitcoin.

The best measure for Bitcoin should be based primarily on the breadth of global adoption by institutions, major corporations, and even governments.

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This isn't crazy at all. This is expected. Bitcoin is a global currency. Its value is expected to shoot up past all these private companies. Companies like Tesla are dependent on their business performances. If their products are out of taste of the consumers they're expected to have weak sales and this will reflect on the overall company's value. Bitcoin on the other hand has already proven its worth. Now its growth will depend on adoption, on how strong will it be used by the people. But then again, as the best currency available, there is no way but up.

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Quote from: Relonage on October 26, 2023, 02:07:29 AM

According to the latest data from 8marketcap, Bitcoin's market capitalization has surpassed that of Tesla, now ranking as the 11th largest global asset by market value. Bitcoin's market capitalization is approximately $676.6 billion with a 14.13% increase in the past 24 hours, while Tesla's market capitalization stands at around $673.1 billion with a 0.04% increase in the same period. This sounds crazy.

Comparing growth of Bitcoin with the growth of a company might not be a good idea. This is because the journey is completely different. This can be observer worh rate of growth. The rate of growth achieved by Bitcoin or crypto is impossible to be done by any other company. When someone starts a company there is lot of time required for setup and other things.

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Quote from: Don Pedro Dinero on October 29, 2023, 03:46:51 AM

Well, leaving aside that we may be comparing apples and pears, as stompix says, this is part of the speculation game. Seeing bitcoin's market cap approaching and surpassing that of other assets tends to motivate us. By the way, I follow it in https://companiesmarketcap.com/assets-by-market-cap/

Given that at the peak of this cycle the market cap was around $1T, and that the next cycle is likely to see the price multiply by a minimum of one by 2.5 it is quite likely that at the peak of the next cycle we will only have the market cap of gold ahead of us at some point.

As I remember, the capitalization of the entire cryptocurrency industry during the 2021 bull season is almost 3 trillion USD, not just 1 trillion USD today. So the fact that it will surpass all and even the gold market is probably what will happen but if we only talk about bitcoin's capitalization, it will not be an easy task. $13 trillion for the gold market is a huge number, not a small number, and bitcoin is only $500 million, a huge difference.

If comparing total market capitalization, I would compare the capitalization of cryptocurrencies with the stock market. The capitalization of the stock market is about 70-80 trillion USD, this is an extremely large number and we have a long way to go.

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Well, leaving aside that we may be comparing apples and pears, as stompix says, this is part of the speculation game. Seeing bitcoin's market cap approaching and surpassing that of other assets tends to motivate us. By the way, I follow it in https://companiesmarketcap.com/assets-by-market-cap/

Given that at the peak of this cycle the market cap was around $1T, and that the next cycle is likely to see the price multiply by a minimum of one by 2.5 it is quite likely that at the peak of the next cycle we will only have the market cap of gold ahead of us at some point.

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Quote from: Fivestar4everMVP on October 28, 2023, 10:24:24 AM

Well, you are right, a market where competition or alternatives does not exist, is not complete, and I bet that those participating in such a market will blindly lose a lot of opportunities without even knowing it.

I believe this is why we have bitcoin, which is the main and original cryptocurrency, and we have altcoin, for those who are looking for an alternative to bitcoin in cryptocurrency investments and trading.

And when we come down to worldwide investment assets in general, we have company shares and bonds, we have the real estate, we have land and properties, we have precious metals, we have cryptocurrencies which happens to be the latest innovation, and so on.
And coming to shares, tesla fall under it, and coming to cryptocurrencies, bitcoin fall under it, all this are investment opportunities created for man, Anyone anybody is comfortable with, he or she will go ahead and invest in that area, this is the beauty of choices, alternatives, and diversity.

We could provide proof of that with other stuff. Like how Tesla is in a world where there are other car manufacturers, and is no longer the only electric vehicle neither, and yet they are still the biggest, they created a company that is so big that within less than 20 years they became the biggest car company in the whole world, became even one of the biggest companies in the world as well, they are incredibly huge. That didn't happen because they had no competition, they had competition and still went up.

Bitcoin is not the only currency in the world neither, nor it is the only asset, and yet with all that competition we have still seen bitcoin grow this much as well. They both have competition in the field that they exist and they both grew strongly even with the competition, sometimes even growing with the competition while at other times growing in spite of competition. That is why if they were on the same field, they would still grow together.

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Quote from: Relonage on October 26, 2023, 02:07:29 AM

According to the latest data from 8marketcap, Bitcoin's market capitalization has surpassed that of Tesla, now ranking as the 11th largest global asset by market value. Bitcoin's market capitalization is approximately $676.6 billion with a 14.13% increase in the past 24 hours, while Tesla's market capitalization stands at around $673.1 billion with a 0.04% increase in the same period. This sounds crazy.

We should expect more higher capitalization soon because by the time Bitcoin price is going to reach 100k that is going to make the total market cap to triple and become almost the biggest in the market. The bull market is still loading and when that time comes, those that has been saying that Bitcoin is going to crash and not go bull will be shocked about the bull trend. It will be of advantage not be only the hearer but buyers too in this bear market. There is more to profits from the market if we can be patient and wait for the market to go bullish before we ever sell our holdings.

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Quote from: Relonage on October 26, 2023, 02:07:29 AM

According to the latest data from 8marketcap, Bitcoin's market capitalization has surpassed that of Tesla, now ranking as the 11th largest global asset by market value. Bitcoin's market capitalization is approximately $676.6 billion with a 14.13% increase in the past 24 hours, while Tesla's market capitalization stands at around $673.1 billion with a 0.04% increase in the same period. This sounds crazy.

Hmm, we haven't even started and global assets' top ranking seems to get disturbing aggressively, I'm sure in this rally we'll end up with great achievements. In this Bull rally and ATH cycle, I'm sure we'll touch the multi-trillion capital, at least this is what I'm expecting from the market.

This will create a great reputation among the potential opportunity in the risky markets, and sooner or latter Bitcoin is gonna suppress most of its competitors. Just remember Bitcoin is still a very immature and growing industry the adoption level will bring a stormy change in the whole financial world and it will be hard to stop it for any authority.

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Quote from: wiss19 on October 28, 2023, 09:59:10 AM

There is basically nothing surprising in that considering that the price of Bitcoin is volatile and its market capitalization will also keep fluctuating over time by either going up or down, and we might even see it going to the number 1 position in the future but it will still remain something that is out of that race because it's a cryptocurrency and others are companies and stocks which are different than cryptocurrencies both in nature and also in what they offer.

I wouldn't be surprised if Bitcoin manages to cross all other stocks in that list as well and reach the top during the upcoming bull run because the market capitalization is basically the supply multiplied by unit price and Bitcoin is expected to go very high during the bull run that is upcoming.

Even if bitcoin capitalization becomes larger and rises to number 1 on this ranking, it doesn't mean anything, this is just a fun but essentially meaningless comparison. because bitcoin is an asset and we cannot compare asset to a company or organization. if you want to compare, compare bitcoin with gold and real estate. but if you compare bitcoin with these two thousand-year-old assets, it will be very lame, gold's capitalization is more than 11 trillion USD while the real estate industry is up to 70 trillion USD. this shows that bitcoin is still too small but it also shows that bitcoin's potential is still huge and we still have a lot of opportunities.

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Well, you are right, a market where competition or alternatives does not exist, is not complete, and I bet that those participating in such a market will blindly lose a lot of opportunities without even knowing it.

I believe this is why we have bitcoin, which is the main and original cryptocurrency, and we have altcoin, for those who are looking for an alternative to bitcoin in cryptocurrency investments and trading.

And when we come down to worldwide investment assets in general, we have company shares and bonds, we have the real estate, we have land and properties, we have precious metals, we have cryptocurrencies which happens to be the latest innovation, and so on.
And coming to shares, tesla fall under it, and coming to cryptocurrencies, bitcoin fall under it, all this are investment opportunities created for man, Anyone anybody is comfortable with, he or she will go ahead and invest in that area, this is the beauty of choices, alternatives, and diversity.

Quote from: JollyGood on October 27, 2023, 12:10:36 PM

Even if Bitcoin and Tesla were in direct competition with each other, there would be space for both to co-exist. Ethereum is an excellent altcoin, it has contracts and is modelled differently to Bitcoin. The same for USDT or DAI (regardless of 1:1 ratio potential pitfalls) and also XRP, they have their own benefits to bring to the table and all are co-existing.

I suppose if you were an investor with a few thousands to invest, in that case there could be a dilemma about where to invest if you narrowed down your shortlist to just Bitcoin and Tesla Grin

Quote from: Fivestar4everMVP on October 27, 2023, 02:41:58 AM

But the Goodnews in this term is that, there is actually no competition between tesla and bitcoin, anybody with a properly working brains would know that in the near future, Bitcoin will be sitting among the top 5 assets with the most market capitalization globally, tesla cannot compete with bitcoin in this regard, this is very certain and not a thing to be surprised about.

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Quote from: m2017 on October 27, 2023, 12:26:03 PM

Quote from: hugeblack on October 26, 2023, 05:43:21 AM

There is also no comparison between Bitcoin and Tesla, as they are both in different fields and target a different type of customer, and Bitcoin is not a stock to be compared to one of the stocks.

Why no? Some experts argue that bitcoin behaves like a technology company, and in some ways it is, given that it is technology and it's market behavior.

So, what do you compare? The stock value?
Let's make it easier and change Tesla with Paypal since they are both finance!

We compare the stock price or the amount of user funds Pyapal has in their custody!
Or we can go for Apple, it has 2.8 trillion but it has $ 400 billion in assets, how much has Bitcoin in assets? Zero as it doesn't own property just as gold!
Tesla has 90 billion in assets, what is the equivalent for Bitcoin here?

Nobody should compare a company with a decentralized currency, it makes no sense!

And if we go even deeper into those, let's assume both of them go down by 50%!
The effect on your Bticoin stash would be obvious, but the effect on your Tesla car? Zero!
Same when it goes up, you are raking profits with BTC, but your car has the same range no matter if the shares go up 1000% times!

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There is basically nothing surprising in that considering that the price of Bitcoin is volatile and its market capitalization will also keep fluctuating over time by either going up or down, and we might even see it going to the number 1 position in the future but it will still remain something that is out of that race because it's a cryptocurrency and others are companies and stocks which are different than cryptocurrencies both in nature and also in what they offer.

I wouldn't be surprised if Bitcoin manages to cross all other stocks in that list as well and reach the top during the upcoming bull run because the market capitalization is basically the supply multiplied by unit price and Bitcoin is expected to go very high during the bull run that is upcoming.

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Quote from: hugeblack on October 26, 2023, 05:43:21 AM

Market capacity is a rapidly changing measure and may lead Bitcoin to be close to or exceed Apple during the next 18 months, considering that we will stop somewhere between $2 trillion and $3 trillion.

There is no arguing here that the market capacity is changing rapidly and after the forecasts you described about the growth of the bitcoin capitalization to "somewhere between $2 trillion and $3 trillion", this capitalization will probably fall after the completion of the bullish trend in the crypto market, which will again lower the rank of the bitcoin.

Quote from: hugeblack on October 26, 2023, 05:43:21 AM

There is also no comparison between Bitcoin and Tesla, as they are both in different fields and target a different type of customer, and Bitcoin is not a stock to be compared to one of the stocks.

Why no? Some experts argue that bitcoin behaves like a technology company, and in some ways it is, given that it is technology and it's market behavior. Of course, no technology (or any other) company has similar fluctuations associated with cycles and, accordingly, the same strong ups and downs.

The types of customers are the same: they all invest for big profits. Tesla is a hype company. Bitcoin is also hype in its own way and attracts the most customers during the hype period.

The point is not that bitcoin is not a stock, but in the general principle of investing in this, which is similar to stocks, only without a regulator and centralization, as well as appropriate investment insurance and other investor protective mechanisms.

Quote from: hugeblack on October 26, 2023, 05:43:21 AM

This title would be good for the beginning of an article to attract views, but there is no relationship between Bitcoin and Tesla that would make us compare the market capacities between them.

But for some reason we compare, don’t we.

Topic: Bitcoin Surpasses Tesla, Ranks 11th Globally (Read 371 times)