Bitcoin crossed Tencent's marketcap

[Imran232]

Tencent is chinese number 1 company and also it is worldwide under top 10 marketcap ranked company. It was number 8th ranked globally but today bitcoin crossed its marketcap and now bitcoin is 8th and Tencent is number 9th.



In the past 24 hours, Bitcoin (BTC) was trading between $50,710.20 and $52,965.31, a new all-time high for the cryptocurrency, representing the fourth straight day that BTC has hit a new ATH. As of 10:00 AM (UTC) today, BTC is at $52,734.82 (+1.83%). With this rise, Bitcoin is now the eighth-largest global asset by market cap, surpassing Tencent.

Source: Binance

[Josefjix]

Soon enough if the price increment continues we might be forced to believe that Bitcoin will soon surpass Alphabet (Google) on the chart. The institutional adoption this time is having a great effect on the widespread of the digital money.

[bryant.coleman]

We are so close to the $1 trillion market cap, and I hope it will be achieved in this month itself. The reaction from the corporations and institutions remain overwhelmingly positive, despite the FUD being spread by JP Morgan and some of the other banking cartels. In the long term, Bitcoin will be posing a tough challenge to gold. Both these assets are being used as a store of value now. I believe that Bitcoin is superior to gold, because it can be easily transacted across the international borders, and can be hidden and protected against confiscation. 

[maculeth]

Bitcoin could be further at number 5 beating Amazon with Elon Musk's contribution if this continues for long-term development and projects, but to beat Microsoft and above, I think it's still difficult.

[leea-1334]

And we are only just getting started (and it will be a true saying for many years to come hopefully!).

And if you think about things like Tencent and other stocks, they will not be around maybe for 50 years while we all know Bitcoin is strong enough to be here for 100 years.

[tbct_mt2]

https://companiesmarketcap.com/

You can check the marketcap of many big tech companies and compare it with bitcoin marketcap from https://coinmarketcap.com/currencies/bitcoin/

I remembered a website that include bitcoin to their marketcap table but can not find a link.  

Find it: https://assetdash.com/

[Jawhead999]

It's very good news, soon it will overtake Alphabet A/Google. It show how big and large people are interested with Bitcoin, not surprised Miami and Tesla invested on Bitcoin... they know what they do.

Who's Tencent?

China company who has created WeChat and now known as created many mobile/video games.

How much Bitcoin does Tencent own?

I don't think Tencent own any Bitcoin (but who knows if they already buy and didn't publish it)

But if you referring to @OP post about the price on Tencent, it's a stock.

[Poker Player]

Tencent is chinese number 1 company and also it is worldwide under top 10 marketcap ranked company. It was number 8th ranked globally but today bitcoin crossed its marketcap and now bitcoin is 8th and Tencent is number 9th.


In the past 24 hours, Bitcoin (BTC) was trading between $50,710.20 and $52,965.31, a new all-time high for the cryptocurrency, representing the fourth straight day that BTC has hit a new ATH. As of 10:00 AM (UTC) today, BTC is at $52,734.82 (+1.83%). With this rise, Bitcoin is now the eighth-largest global asset by market cap, surpassing Tencent.

Source: Binance

Not really. It was two days ago. I was thinking of opening a thread when I saw it but I finally didn't. If you check the market cap you will see that it agrees with what I say. Anyway, the important thing is that Bitcoin is still unstoppable and the next one to get eaten is Google.

[hatshepsut93]

Bitcoin is not a company, what's the point in comparing it with stocks? And companies are valued highly because investors have expectations about their performance, while Bitcoin is driven by pure speculation. Bitcoin will crash by 80% (based on past cycles), but Tencent won't, unless it will majorly screw up.

Bitcoin is not a universally good investment, it's a risky investment that rewards investors for high risk. It's not a replacement for stocks and other traditional investments.