Over the past year, bitcoin’s market value has fallen from the world’s 8th most valuable asset to 26th

Bitcoin’s market valuation in November 2021 managed to make it into the top ten list of assets ranked by market capitalization, as it was the eighth largest market capitalization on November 9 last year. Since then, the value of bitcoin is down 75%. The market capitalization of the US dollar and the leading cryptocurrency fell to the 26th largest position among the most valuable assets and companies in the world.
Bitcoin’s market price is slightly below Chevron’s and slightly above Home Depot’s market prices
More than a year ago, in November 2021, the market capitalization of bitcoin (BTC) was the eighth largest among countless companies and assets traded globally. At that time, on November 9, 2021, an archive.org snapshot collected from companiesmarketcap.com shows BTC’s market cap at $1.289 trillion, as each unit exchanged just over $68,000.
Bitcoin position on November 9, 2021 at companiesmarketcap.com.
On that day, the market value of BTC was lower than the total valuation of the precious metal silver, which was $1.380 trillion on November 9, 2021. The leading cryptocurrency was just above the $1.167 trillion market valuation Tesla recorded 395 days ago. In addition, ethereum (ETH) was placed in the top 20 positions of assets ranked by market capitalization as on November 9, 2021, ETH had the 15th largest market cap.
Bitcoin position as of December 9, 2022 at companiesmarketcap.com.
At that time, the market value of ETH was about $570.45 billion, as it was trading at $4,839 per ether unit. Ethereum’s market cap was below that of Tencent, which has a market cap of about $588.07 billion. The market cap of the second leading cryptocurrency was above JPMorgan Chase’s estimate of $499.61 billion 395 days ago.
Ethereum position on December 9, 2022 at companiesmarketcap.com.
Today, December 9, 2022, the two leading cryptocurrencies BTC and ETH have lower prices than they did a year ago. Bitcoin is not represented in the top ten assets ranked by market capitalization, as it is currently in the top 30 positions and is 26. BTC’s market cap of $331.76 billion today is slightly lower than Chevron’s market cap of about $335.56 billion.
Additionally, bitcoin’s market capitalization is slightly higher than the total market value of Home Depot, which was valued at $330.30 billion on December 9. Ethereum has dropped significantly from the 15th largest position as it currently ranks 72nd by market cap. about $155.25 billion. Ether’s market cap is lower than that of United Parcel Service (UPS) at $155.36 billion and slightly higher than Adobe’s valuation ($154.61 billion).

The current market price of Ethereum is about 73.7% lower than it was 395 days ago on November 9, 2021. While BTC and ETH have seen their market prices fall over the past year, the same can be said for a wide variety of other assets. and companies. Some assets, such as the general market price of gold, on the other hand, have recorded gains over the past 12 months. Gold’s cap was around $11.605 trillion in November 2021 and is worth $11.910 trillion today.
Microsoft was the second largest asset a year ago, but is now in third place as Microsoft’s value has fallen from $2.53 trillion to today’s $1.844 trillion. Google or Alphabet’s market cap was about $1.98 trillion and 395 days ago on November 9, 2021 it was in fifth place and on December 9, 2022 it decreased to $1.213 trillion. Silver’s position in the top ten list rose from seventh to fifth, but the market value of the precious metal still fell from $1.38 trillion to today’s $1.316 trillion.

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What do you think about bitcoin falling from the top ten most valuable assets and companies in the world to the 26th position? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons, editorial photo credit: companiesmarketcap.com

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