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Bitcoin (BTC) has reached a new all-time high of $89,517, pushing its market capitalization to $1.735 trillion, surpassing silver’s $1.731 trillion. This marks a major milestone for cryptocurrency, securing its place as the world’s eighth-largest asset. 
The surge in Bitcoin’s value comes as it briefly surpassed $89,000, reaching a peak of $89,517, before dipping slightly. This 9% increase in just one day is fueled by growing institutional interest and the continued demand for spot Bitcoin exchange-traded funds (ETFs). 
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 <img loading="lazy" decoding="async" width="1024" height="246" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset-1024x246.jpg" alt="Bitcoin Market Cap Surpasses Silver to Become Eighth-Largest Asset" class="wp-image-213453" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset-1024x246.jpg 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset-615x148.jpg 615w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset-768x184.jpg 768w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset-860x207.jpg 860w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Bitcoin-Market-Cap-Surpasses-Silver-to-Become-Eighth-Largest-Asset.jpg 1170w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Source: <a href="https://8marketcap.com/" target="_blank" rel="noreferrer noopener nofollow">Infinite Market Cap</a>
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Interestingly, Bitcoin has now overtaken silver twice this year, the <a href="https://www.cryptotimes.io/2024/03/12/bitcoin-overtakes-silver-in-market-valuation-with-1-4t/" target="_blank" rel="noreferrer noopener">first time being in March</a>. Meanwhile, silver’s market cap has dropped by 6.24% over the past week, standing at $1.732 trillion, while Bitcoin has soared by 30% during the same period. 
The move signals a shift in how traditional investors view Bitcoin, with growing recognition of the cryptocurrency as a stable store of value, much like silver—though still far behind gold, which remains over 10 times larger than Bitcoin with a $17.65 trillion market cap. 
This rally is also linked to a shift in U.S. politics, where pro-crypto lawmakers are gaining traction. Investors are increasingly turning to Bitcoin as an alternative investment to traditional assets.&nbsp; 
El Salvador’s Bitcoin investment has gained over $119 million in profit as Bitcoin hits a new all-time high of $89,500. Nayib Bukele tweeted, “I told you so,” expressing his confidence. 
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 Source:&nbsp;&nbsp;<a href="https://x.com/nayibbukele/status/1856056828108382407" target="_blank" rel="noreferrer noopener nofollow">X</a>
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The “Bitcoin Industrial Complex,” which includes major players like MicroStrategy and Coinbase, saw a record $38 billion in trading volume, reflecting this growing confidence. 
Bitcoin’s rise positions it just behind global giants like gold, Apple, and Microsoft, further solidifying its place as a serious asset for investors seeking diversification amid market uncertainties.&nbsp; 
The future looks bright for Bitcoin as more investors flock to it for its potential. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/11/microstrategy-buys-2b-more-in-bitcoin-at-74463-per-coin/" target="_blank" rel="noreferrer noopener">MicroStrategy Buys $2B More in Bitcoin at $74,463 per Coin</a> 
</blockquote>

Bitcoin Hits New ATH of $89,517, Surpasses Silver Market Cap

The Crypto Times

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