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Bitcoin’s market cap has fallen from the 8th most valuable asset in the world to the 26th position

over the last year.

Over the Last Year, Bitcoin's Market Cap Slid From the World's 8th Most Valuable Asset to the 26th Position

In Nov. 2021, bitcoin’s market valuation managed to make it into the top ten list of assets ranked by market capitalization, as it was the eighth largest market cap last year on Nov. 9. Since then, bitcoin is 75% lower in value against the U.S. dollar and the leading crypto asset’s market capitalization has dropped down to the 26th largest position among the most valuable assets and companies worldwide.

Bitcoin’s Market Cap Is Just Below Chevron’s and Just Above the Home Depot’s Market Valuations

Just over a year ago in Nov. 2021, bitcoin’s (BTC) market capitalization was the eighth largest out of a myriad of companies and assets traded globally. At the time, on Nov. 9, 2021, an archive.org snapshot collected from companiesmarketcap.com shows BTC‘s market valuation was $1. 289 trillion as each unit was swapping for just over $68K.

Over the Last Year, Bitcoin's Market Cap Slid From the World's 8th Most Valuable Asset to the 26th Position
Bitcoin’s position on companiesmarketcap.com on Nov. 9, 2021.

On that day, BTC‘s market cap was below the precious metal silver’s overall valuation, which was $1. 380 trillion on Nov. 9, 2021. Tesla’s $1 was the most popular crypto asset. 167 trillion market valuation recorded 395 days ago. Additionally, ethereum (ETH) was situated in the top 20 positions of assets ranked by market capitalization as ETH held the 15th largest market cap on Nov. 9, 2021.

Over the Last Year, Bitcoin's Market Cap Slid From the World's 8th Most Valuable Asset to the 26th Position
Bitcoin’s position on companiesmarketcap.com on Dec. 9, 2022.

At the time, ETH‘s market valuation was around $570. 45 billion as ether was swapping for $4,839 per unit. Ethereum’s market cap was below the company Tencent which had a market valuation of around $588. 07 billion. The second leading crypto asset’s market cap was above JPMorgan Chase’s valuation which was $499. 61 billion 395 days ago.

Over the Last Year, Bitcoin's Market Cap Slid From the World's 8th Most Valuable Asset to the 26th Position
Ethereum’s position on companiesmarketcap.com on Dec. 9, 2022.

Today, on Dec. 9, 2022, the top two leading crypto assets BTC and ETH have much lower valuations than they did a year ago. Bitcoin is not represented in the top ten standings of assets ranked by market capitalization as it’s now within the top 30 positions and ranked at 26. The $331. 76 billion market cap BTC holds today is just below Chevron’s market cap of around $335. 56 billion.

Further, bitcoin’s market capitalization is just above the overall market valuation of Home Depot, which is valued at $330. 30 billion on Dec. 9. Ethereum has slid a great deal from the 15th largest position as it now holds the 72nd spot with a market cap of around $155. 25 billion. Ether’s market cap is below the United Parcel Service (UPS) which is $155. 36 billion, and it’s just above the valuation of Adobe ($154.61B).

Ethereum’s current market price is roughly 73.7% lower than it was 395 days ago on Nov. 9, 2021. Though BTC and ETH have seen their market caps drop lower during the last year, the same can be said for a large number of different assets and companies. Some assets, like gold’s overall market valuation, conversely recorded increases over the last 12 months. Gold’s cap in Nov. 2021 was around $11. 605 trillion, and today it’s worth $11. 910 trillion.

Microsoft used to be the second-largest assets a year ago but now it’s in the third place as Microsoft’s value has dropped from $2. 53 trillion to today’s $1. 844 trillion. Google or Alphabet had a market cap of around $1. 98 trillion and in the fifth position 395 days ago on Nov. 9, 2021, and on Dec. 9, 2022, it’s down to $1. 213 trillion. Silver moved up to the fifth place on the top ten list, but its market cap dropped to $1. 38 trillion to today’s $1. 316 trillion.

What do you think about bitcoin’s fall from the top ten most valuable assets and companies worldwide down to the 26th position? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, editorial photo credit: companiesmarketcap.com

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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