Bitcoin Valuation Exceeds Berkshire Hathaway

Check Today's Crypto Market:

Bittime - In the midst of the roar of global financial markets, Bitcoin is back in the spotlight with price increases that captivate investors. Rallying 91% to $52,000 in a short time, Bitcoin is not just a digital asset, but has established itself as a giant among the world's most valuable assets, surpassing even legendary companies like Berkshire Hathaway.

Rise Attracts Investors to Bitcoin

For investors, the idea of ​​backing Bitcoin became very attractive, especially after seeing the price of Bitcoin soar 91% to $52,000 in just four months, through mid-February.

Now, with Bitcoin's market value reaching $1 trillion, Bitcoin is among the 10 most traded assets worldwide, even surpassing the market value of Warren Buffet's famous Berkshire Hathaway, which stands at $875 billion.

Also read:

Bitcoin's Next Potential Achievement

Currently, for Bitcoin to reach $70,000 from its current price of $52,000, an additional increase of 34.5% is needed. This means that Bitcoin's market value should rise by another $350 billion.

If this happens, Bitcoin will be worth more than silver and the British pound, including all the money in banks and in circulation. The question now is, do current economic and market conditions support Bitcoin's $1.35 trillion market value?

Bitcoin Price Movement and Future Prospects

Some might argue that Bitcoin already passed these major challenges in November 2021, when its price hit a record high of $69,000.

With the approval of a Bitcoin ETF in the United States and the resolution of several issues, such as Binance's legal issues with regulators and the FTX exchange's bankruptcy procedures, it seems more likely now for Bitcoin to repeat the feat.

Also read:

Economic Factors Supporting Bitcoin

In November 2021, when interest rates were very low and inflation rose sharply, many investors turned to assets like Bitcoin for higher returns. Inflation in the US at that time reached 6.8%, the highest figure since 1982.

These conditions strongly favor rare assets like Bitcoin, as investors worry about global supply chain issues and the economic impact of COVID-19.

Inflation and Its Impact on Bitcoin Investments

The latest data shows inflation in the US in January 2024 rose 3.1% year-on-year, still above the Federal Reserve's target but within reasonable limits.

With earnings growth estimates for companies in the S&P 500 index increasing, investors may not be as motivated to seek alternative assets as they were in late 2021.

Bitcoin ETFs and Institutional Acceptance

Since its launch in January, the Bitcoin ETF has attracted $4 billion in investments in the US, indicating that Bitcoin is increasingly being accepted as a mature investment asset.

Despite this, Bitcoin's price is still 25% lower than its previous high, even lower when accounting for inflation or the money supply.

Conclusion

While Bitcoin adoption has increased, predictions of sky-high prices have not materialized. However, the achievement of a $3 trillion market value by companies like Microsoft and Apple suggests that there is still hope for Bitcoin to reach higher prices, although it may not happen before the Bitcoin block reward cut (halving) in April.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read

The Geopolitical Role of Bitcoin and Stablecoins Pegged Using Fiat Currencies

Maggie Wu: Equality Warrior and Visionary Leader in the Crypto Ecosystem

Get to Know Bitcoin Cash and How It Works

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.