On Wednesday, bitcoin's market cap surpassed that of Saudi Aramco, the world’s largest oil company. According to CompaniesMarketCap, a popular leaderboard, bitcoin “flippened” the company for a brief period during Wall Street's lunch hour.
This milestone happened just minutes after bitcoin exceeded a common, though somewhat rough, estimate of the world’s mined silver, which is 1,751,000 metric tonnes.
Even though bitcoin dropped back to a $1.7 trillion market cap on Thursday—putting Saudi Aramco back at $1.8 trillion—bitcoin still sits above silver and is close to flipping Saudi Aramco again.
Many bitcoin enthusiasts are already looking beyond the oil giant and precious metal. They’re eyeing higher targets on the leaderboard. Above Saudi Aramco, you'll find tech giants like Google, Amazon, Microsoft, Apple, NVIDIA, and gold. The big question is: who will bitcoin flip next?
Assets on CompaniesMarketCap change daily based on market prices, leading to shifts in their rankings. As of now, Alphabet (Google) is the easiest target, with a market cap of $2.1 trillion.
To surpass Google and rank sixth, bitcoin needs to rally by 23% from its current value. Amazon is just $0.1 trillion higher than Google. A 29% increase from today’s price of $87,600 would allow bitcoin to outrank Amazon.
Then there’s NVIDIA, sitting at a hefty $3.6 trillion—more than double bitcoin's value.
At the very top, gold reigns as the most valuable precious metal by total mined supply. While there’s debate about how much gold is secretly stored in countries like India, China, and Russia, a common estimate puts its above-ground supply at 208,874 metric tonnes.
If that number is accurate, gold’s market cap stands at a staggering $17.2 trillion. In percentage terms, that makes gold at least 900% higher than bitcoin’s market cap. If there are hidden gold reserves in Asia, that percentage could rise even more.
It’s important to note that CompaniesMarketCap doesn’t include many other assets that bitcoin could potentially flip. Think about parks, militaries, real estate, and even entire countries. For instance, residential real estate in Australia alone exceeds $10 billion.
Whether bitcoin will flip Google, NVIDIA, gold, or any significant portion of global real estate is still uncertain. Bitcoin doesn’t fit neatly into traditional prediction models. However, it has the potential to become one of the world’s largest assets if its bullish trend continues.