Bitcoin finishes the year with the world’s 26th greatest market capitalization.

Ethereum was ranked 77th, while Tesla dropped out of the top ten.

Bitcoin (BTC) enters the Christmas season with the 26th greatest market capitalization of $324.68 billion, just below Mastercard’s $328.35 billion.

Ethereum (ETH) ranks 77th on the list with a market valuation of $147.60 billion, while Tesla drops out of the top 10 and ranks 13th with $395.82 billion.

Ranking based on market capitalization

The top three assets are gold, Apple, and Saudi Aramco, with market capitalizations of $11.939 trillion, $2.103 trillion, and $1.819 trillion, respectively.

Microsoft, Silver, Google, and Amazon are the fourth, fifth, sixth, and seventh largest companies in the world, with market capitalizations of $1.775 trillion, $1.333 trillion, $1.137 trillion, and $854.80 billion, respectively.

Meta Platforms and Samsung, on the other hand, are rated 30th and 31st, respectively, with market capitalizations of $311.31 billion and $304,89 billion.

BTC and gold

On October 24, analysts at CryptoSlate showed that BTC and Gold have attained an 85% correlation over the previous year. With 85% accuracy, this finding suggested that these two assets increased and fell at the same times and rates.

On November 4, market data revealed that BTC performed better than Gold or NASDAQ in response to the Fed’s 0.75% interest rate hike. In response to the hike, gold declined by 0.68%, while the NASDAQ plunged by 4.97%. BTC, on the other hand, grew by 0.55% throughout the same period, implying that BTC is a much “safer” asset than NASDAQ or Gold.

The link between BTC and Gold was also recognized by notable cryptocurrency names. Bitcoin: The Money of the Future? Dominic Frisby proposed buying BTC and Gold combined to counteract inflation, whereas ETH inventor Buterin just uses BTC.

Source: https://cryptoslate.com/bitcoin-closes-year-with-26th-largest-market-cap/