The rise of bitcoin is perhaps been one amongst the most talked financial stories of 2020. Ok let’s recall what happened, Bitcoin hit an all-time high throughout December and also passing a whopping $27,000 level on Dec. 28.
With the increasing price of the cryptocurrency, bitcoin’s capitalisation has surpassed several financial companies. Earlier in 2020 bitcoin surpassed JPMorgan Chase and Mastercard. And by the beginning of 2021 bitcoin’s market valuation crossed $500billion and surpasses Visa.
According to Forbes Bitcoin is that the 11-biggest and therefore the Most worthy asset by market cap, up next on the list comes Berkshire Hathaway, led by the legendary investor himself Warren Buffett.
Buffett once said bitcoin is maybe rat poison peridot and he didn’t stop yet he also quoted that “In terms of cryptocurrencies, generally, I can say with almost certainty that they'll come to a nasty ending. If I could buy a five-year placed on each one of the cryptocurrencies, I’d be glad to try and do it but I'd never short a dime’s worth,” Berkshire Hathaway now ranks 10th on the asset list with a capitalization of $535billion.
With literally 18million bitcoin’s currently in rotation and lots of yet to be mined it won’t take long for bitcoin to surpass Berkshire Hathaway market cap. Let’s wait and see what happens, only time can say whether Buffett was right or not.
Comment