Key Takeaways
- Bitcoin surpasses Meta with a $1.46 trillion market cap.
- Analysts expect strong momentum with Trump's election.
- Trump-themed meme coins see major gains post-election.
Bitcoin has moved into 9th place in global market capitalization, surpassing Meta Platforms amid a price rally fueled by Donald Trump’s election win.
With Bitcoin trading at $73,800 and a total market cap of $1.46 trillion, it edged out Meta, valued at $1.445 trillion.
This isn’t the first time Bitcoin has overtaken Meta; it also briefly topped the social media giant back in March when it reached $73,000.
Investor optimism
Analysts point to positive sentiment following Trump’s pro-Bitcoin stance and his campaign hints about potentially designating Bitcoin as a strategic reserve.
Ryan Lee, Chief Analyst at Bitget Research, said:
The market seems to have reacted in advance to Trump’s earlier hints about potentially designating BTC as a strategic reserve asset.
Analysts at QCP Capital also highlighted that Bitcoin has now climbed to new highs following each U.S. election since its inception, with prices historically holding above pre-election levels.
