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Bitcoin Overtakes Facebook In Market Capitalisation

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Facebook has been going through a tough time in the recent past. After the recent chaos caused by the crash of Facebook, Whatsapp, and subsidiary platforms, Bitcoin is now worth more than Facebook in market capitalization. Within the last 12 months, Bitcoin has grown at 360%. At the same time period, Facebook has only grown 22%. The personal wealth of Mark Zuckerberg has come down by almost $7 billion. Most experts attribute these to the increasingly devious practices of Facebook and breach of privacy policies.

Bitcoin, on the other hand, is going through a tumultuous time with both highs and lows. At its highest, Bitcoin reached $64,000 in April of this year. It was followed a period of slump triggered by China’s decision to ban all crypto transactions. However, when Switzerland approved its first crypto fund, Bitcoin prices started to soar again.

Recent data from Chainalysis Global Crypto Adoption Index shows that Asian and African countries are increasingly pushing the growth of cryptocurrency in the world. Countries like India, Vietnam, Nigeria, and Australia are at the forefront of crypto adoption and transaction. Experts are still divided on the ramifications of El Salvador’s adoption of Bitcoin as legal tender. On the other hand, legislators around the world are showing more interest in crypto. In the future, we might see government-registered cryptocurrency exchanges all over the United States. Bitcoin prices also got a boost when legislators from the United States made it clear that they were not going to follow China’s suit in banning crypto. On the whole, Bitcoin seems to be going through more highs than lows.

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