Bitcoin flips Tesla’s market capitalization amid strong BTC price rally
Bitcoin (BTC), the largest cryptocurrency globally, has once again captured the interest of the financial world due to its recent resurgence, as the asset looks to break free from the bearish conditions that prevailed throughout the previous year. Bolstered by its recent upswing, Bitcoin has surpassed traditional equities in market capitalization, signifying a potential notable shift in the financial landscape. Particularly, data obtained by Finbold on October 26 shows that Bitcoin commands a market capitalization of $677.23 billion, surpassing major selected traditional sector stocks. For instance, Bitcoin has outpaced electric vehicle manufacturer Tesla (NASDAQ: TSLA), which has a market cap of $675.26 billion, and pharmaceutical firm Eli Lilly (NYSE: LLY) at $556.72 billion. Furthermore, Bitcoin exceeds finance giant Visa (NYSE: V), which possesses a capitalization of $489 billion, semiconductor manufacturer TSMC with a market cap of $454.53 billion, and healthcare firm Novo ...