Bitcoin Surges Past Tesla and Samsung in Market Value
Bitcoin's price surge has catapulted it past two of the world's biggest listed companies in terms of market capitalization. According to CompaniesMarketCap, Bitcoin's market cap now stands at $1.615 trillion, surpassing Elon Musk-led Tesla with a market value of $1.438 trillion and Samsung with a current market value of $1.237 trillion.
This milestone comes after a rebound in Bitcoin's price, which hit a high of $81,914 on Saturday. BTC's market capitalization reached about $1.63 trillion on September 20, according to CoinGecko historical data.
The crypto market has been defying trends despite a Fed rate hike and the failure of the Clarity Act in the Senate, which were seen as headwinds for risk assets. However, Bitcoin bulls have managed to stay optimistic, with the price surging past $81,000 on Friday before profit-taking ensued.