Bitcoin market cap overtakes Berkshire Hathaway, soars past $800B

Bitcoin is now the 10th biggest asset by market cap, following Meta Platforms (formerly Facebook) and Nvidia.

Bitcoin (BTC), the original cryptocurrency, is gaining momentum versus global big-cap stocks as it overtakes the market value of American conglomerate holding company Berkshire Hathaway.

BTC market cap has risen above $800 billion on Dec.

As Bitcoin surged past $40,000 over the weekend, the market capitalization of the cryptocurrency rose to above $780 billion, just beating Berkshire Hathaway’s $779 billion on Dec.

Berkshire Hathaway’s class A (BRK.A) stock closed the market at $542 on Dec.

The volatility of BRK.A is nowhere near that of Bitcoin, which surged 20% over the past month and almost 150% YTD, according to data from CoinGecko.

At the time of writing, Bitcoin’s market cap amounts to $811 billion, or 4% higher than the market value of Berkshire Hathaway.

Cryptocurrency lawyer John Deaton took to X (formerly Twitter) to comment on the news. “That’s a pretty damn big bottle of rat poison,” Deaton wrote, referring to the words of Berkshire Hathaway CEO Warren Buffett, who famously called Bitcoin “rat poison squared” in 2018.

Related: Bitcoin tops $40K for first time in 19 months, Matrixport tips $125K in 2024

According to data from CompaniesMarketCap, Bitcoin is now the 10th biggest asset by market cap, following Meta Platforms (formerly Facebook) and Nvidia, whose market value currently stands at $834 billion and $1.2 trillion, respectively.