Bitcoin ( BTC ) is down nearly 17% year to date, as institutional outflows and geopolitical tensions continue to pressure digital assets. As a result, ‘digital gold’ has officially dropped out of the top 10 largest assets by market cap, now occupying spot number 13 with a market value of $1.457 trillion, citing numbers provided by Companies Market Cap . For comparison, the cryptocurrency is now worth less than Tesla (NASDAQ: TSLA ) and Meta (NASDAQ: META ), which have a market capitalization of $1.64 trillion and $1.59 trillion, respectively. Top assets by market cap. Source: Companiesmarketcap.com At press time, Bitcoin was changing hands at $72,753, with the $72,000–$73,000 area as the next critical support. To plunge even further, to spot number 14, the digital asset would need to decline just 10% more and lose $147 billion in market cap. Bitcoin bleeds market cap Indeed, in contrast to Bitcoin, precious metals and semiconductor stocks have delivered some of the strongest gains this year. Gold , for example, surged to a record $5,600 per ounce in January before pulling back to around $4,451, while silver climbed as high as $120 per ounce and currently trades at around $73. With Bitcoin dropping, silver is now actually the world’s fifth-largest asset by market capitalization, with a market value of $4.15 trillion. Looking ahead, some analysts project that precious metals are up for another rally, as gold could hit $7,000 . As for semiconductor names, the artificial intelligence ( AI ) boom has continued to outperform crypto markets by a large margin. Nvidia (NASDAQ: NVDA ) is still the second most valuable asset, just below gold, valued at $5.16 trillion. What’s more, CEO Jensen Huang is confident the number is going to rise even more in the next few years. Spots number three and four are occupied by Alphabet (NASDAQ: GOOGL ) at $4.62 trillion and Apple (NASDAQ: AAPL ) at $4.56 trillion. Featured image via Shutterstock The post Bitcoin drops out of the top 10 largest assets by market cap appeared first on Finbold .
