Bitcoin has reached a significant milestone by surpassing silver in market capitalization for the second time in 2024.
According to data from CompaniesMarketCap, Bitcoin’s market cap hit $1.734 trillion on November 12, overtaking silver’s market cap of $1.718 trillion. This achievement positions Bitcoin as the 8th largest asset in the world by market capitalization.
Several factors have contributed to Bitcoin’s remarkable growth, including Donald Trump’s victory in the 2024 U.S. presidential election and a 0.25 basis point interest rate cut by the Federal Reserve.