Its takes few decades for companies to build a huge market cap and this is something that not all companies are able to achieve. Only very few companies are able to achieve a billion-dollar market cap and Facebook is the one in the last. Recent outage for Facebook, WhatsApp, and Instagram has affected Mark Zuckerberg's personal wealth badly and there is a dip of $7 billion USD which is huge however bitcoin keeps on growing these days. Facebook was in the 7th rank in the most valuable asset in terms of its market cap but not anymore as Bitcoin has pushed it down. This has happened when bitcoin is not at its all-time high. Bitcoin's all-time high price was 64k USD in April month this year and currently its trading around 56k so there is almost a 20% of gap to reach that mark.
Crypto is growing faster and if we compare it with Facebook then this social giant does not exist anywhere looking at the crypto adoption and growth rate in the year 2021. Crypto is growing every day but Facebook is facing challenges and controversies a lot and even users are not that crazy about but crypto uses are crazy about bitcoin. This is a situation when very few countries have adopted crypto in a legal way and just assume if the remaining ones adopt it the crossing 100k or 200K USD price for bitcoin will not be far away.
After the social media app, along with WhatsApp and Instagram crashed, Mark Zuckerberg's personal wealth was reduced by nearly $7 billion. And now, the platform has lost its position as the sixth most-valued asset to Bitcoin. Bitcoin, which is almost synonymous with cryptocurrency today, has left Facebook behind in terms of market capitalization. According to Asset Dash, Facebook has been pushed to the seventh position with Bitcoin's meteoric 360 percent rise in asset values in the last year. For the same period, Facebook only went up by 22 percent.
Who thought 5 years back that Bitcoin will be able to surpass facebook but now this has happened now I believe that this is just the beginning. This clearly shows its still the right time to invest in crypto and bitcoin because the future is bright and anything can happen in the future because the growth rate is too high. The bitcoin growth rate is dependent upon adoption and we can foresee that the next 5 - 10 years will be remarkable in the adoption of crypto. Maybe when more people enter then it can be less volatile but its here to stay and since its decentralized so the central authority can out control on it.
Bitcoin was the best performing asset of the last decade and has started off this decade really strong, which poises BTC to potentially becoming the best-performing asset of this decade as well.
Now is the time to move away from traditional stocks because growth is capped and controlled by the government and but bitcoin and crypto are not controlled so they can give massive returns but again there has to be a long-term investment mindset. This has happened when the bitcoin price is at $56k and just imagine what will happen when the BTC price will reach 100k USD or cross this mark. This is going to be so exciting because other companies will also have to slip down and they will not able to stand on the wall against bitcoin.
The future is exciting with bitcoin and crypto and those who are here already have made a good move and still, there is a lot to come so we can expect that a major population will be onboarded in crypto in the next 5 years. It will be great to witness this transition from non-crypto space to crypto space but once this happens then I expect amazing crypto prices.
Thank you so much
