The value of Bitcoin may surpass that of all silver.

Sona59

The total value of the cryptocurrency Bitcoin has surpassed the valuation of all global silver stocks. According to calculations by the professional portal "Infinite Market Cap," the total value of all Bitcoins has exceeded $14.1 trillion for the first time, which is around €13 trillion. Consequently, this oldest cryptocurrency has surpassed the total value of silver, which is estimated at $1.38 trillion. This calculation is based on estimates that approximately 17.4 million tons of silver have been mined globally to date.

At noon, Bitcoin was trading at approximately $71,700 on exchanges. Recently, particularly large investors such as Grayscale, BlackRock, and Fidelity have been driving the rapid rise of Bitcoin by launching Bitcoin funds in the United States. These Bitcoin exchange-traded funds (ETFs) received approval from the U.S. Securities and Exchange Commission (SEC) in January this year. They allow investors to invest in Bitcoin without directly purchasing or holding this digital currency. The surge in Bitcoin began last autumn.

Just at the beginning of this year, the increase in the value of digital currency against the US dollar reached about 62%. Among the most valuable investment products listed by "Infinite Market Cap," gold ranks first. The total global inventory is worth ten times that of Bitcoin ($14.7 trillion). In this ranking, listed companies follow: Microsoft ranks second with a market value of $3.02 trillion, followed by Apple ($2.64 trillion) and AI chip manufacturer Nvidia ($2.19 trillion). The new historical high for Bitcoin does not guarantee that its price will continue to rise in the future.

After reaching its historical high on November 10, 2021, the price of Bitcoin plummeted to below $17,000 within a year, mainly due to the criminal activity scandal involving the cryptocurrency exchange FTX, which shook investors' confidence. As the price of Bitcoin has been strongly rising, it may also consider the upcoming event scheduled for April 20: the next so-called "halving" event. In this event, the rewards for Bitcoin miners used to verify encrypted transactions are halved. Ultimately, this process leads to a slowdown in Bitcoin supply growth, which in the past has typically resulted in price increases.

Kamal531

The price has been soaring all the way.

Pooja193

That value is also quite high.