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BTC's Market Cap Accounts For 0.1 Percent of Total Global Wealth

15 Sep 2022 By: Rohit Tripathi
BTC's Market Cap Acc

Although the cryptocurrency sector is now experiencing difficulties, some investors believe that its most valuable asset, Bitcoin (BTC), will have a bright future. 

As a result, several investors are eager to accumulate BTC as much as possible before it is too late.

Circumstances appear to be working in their favor, since Bitcoin's market value now accounts for barely 0.1% of total global wealth, according to statistics retrieved on September 14 by an analytics platform.

As per CoinGabbar statistics, the total global wealth at press time was estimated to be $418.3 trillion, while the market valuation of Bitcoin was close to $386 billion.

Bitcoin vs. global wealth and U.S. banks’ assets

When compared to the assets of commercial banks located in the United States, the ratio is somewhat greater. As Bitcoin's market value equates to 1.7% of the holdings of US commercial banks expressed in USD.

As per sources statistics, Bitcoin has astronomical five-year return rates, dwarfing other asset classes, including the equities of five leading banks.

Investor interest and price analysis

Furthermore, according to professional crypto trader and analyst Josh Rager, Bitcoin is likely to experience a significant surge in 2024, shortly after its next halving event, which occurs roughly every four years.

Meanwhile, investor interest in purchasing Bitcoin has remained modest in comparison to when the asset's value was rising, as investors await a potential bottom — a scenario that may drive more individuals to purchase the dip.

According to CoinGabbar statistics, the price of BTC is currently trading at $20,317, indicating a 4.36% drop in the last 24hrs but a 7.69% growth over the last seven days.

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