Binance KOL Spotlights Bitcoin Unique Features as 10th Largest Global Asset

A Binance Key Opinion Leader recently spotlighted Bitcoin as the 10th largest global asset, calling attention to its unique features that could catalyze further surges in valuation.

Ted Hartkamp, also a Bybit partner and founder of YOUR Protocol, elaborated on the distinctive qualities that set Bitcoin apart on the global stage during a discussion on X today.

He shared a snapshot highlighting the largest assets in the global scene by market valuation. Atop the list is gold, which currently boasts an impressive market capitalization of $13.902 trillion, with multinational technology firm Microsoft securing second, valued at $3 trillion.

#Bitcoin ranks 16th in currency and 10th in global assets.

Fewer than 1% of adults get its importance. Only 21M #BTC will ever exist, with 19.6M held for long-term savings. No supply cap, unlike other currencies. Get ready for a wild next decade! pic.twitter.com/l803pp9PHB

— Ted (@TedPillows) February 2, 2024

Technology company Apple Inc. and Saudi Arabian oil producing firm Saudi Aramco also made the top five list, with valuations coming in at $2.889 trillion and $2.001 trillion, respectively. Alphabet, Google’s parent company, stands fifth, having a market cap of $1.763 trillion.

Despite being a relatively newer asset and the criticisms from traditional finance leaders, Bitcoin was found to be the tenth largest global asset, with a current valuation of $846.6 billion. BTC had a peak market cap of $1.16 trillion in November 2021, overtaking Meta, Silver and Nvidia.

Data from crypto price tracker CoinMarketCap indicates that the premier crypto had a market capitalization of $8 billion as of February 2014.

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This suggests that the asset’s valuation has surged by more than 10,475% over the last decade, surpassing the growth rate of most of the entities on the top 10 list of largest global assets.

Bitcoin Unique Features

However, this isn’t the only metric that makes Bitcoin stand out. Hartkamp called pointed out several other features that make the crypto token unique, one of which is its limited supply. Notably, BTC has a max supply of 21 million tokens, with about 19.6 million tokens likely to be held by long-term holders.

In addition, the Binance KOL also called attention to the fact that Bitcoin adoption has not matured as of press time. A Triple A report estimated that there were about 420 million crypto users last year, representing 5% of the world’s population.

This suggests that Bitcoin’s users are fewer than 420 million globally, given there are over 2.2 million cryptocurrencies, as indexed by CoinMarketCap. Essentially, this metric indicates that Bitcoin is still in its early stages, and the asset could make more waves as it continues to mature.

Interestingly, Bitcoin adoption has recently seen a rise among institutions, with the latest development surrounding the launch of spot Bitcoin ETFs. Finance leaders such as BlackRock’s Larry Fink and “Rich Dad Poor Dad” author Robert Kiyosaki have continued to endorse the asset.

Notably, Bitcoin’s volatility has also seen a reduction in recent times, hitting a record low, as the cryptocurrency attains more maturity and slips further into TradFi. Several price predictions have projected BTC to hit five zero digits, with Kiyosaki expecting a $150,000 price soon. Such price surges would further multiply Bitcoin’s market cap.

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• Source: https://thecryptobasic.com/2024/02/02/binance-kol-spotlights-bitcoin-unique-features-as-10th-largest-global-asset/?utm_source=rss&utm_medium=rss&utm_campaign=binance-kol-spotlights-bitcoin-unique-features-as-10th-largest-global-asset