Bitcoin Breaks Records: Market Cap Exceeds $1.93 Trillion

On November 21, Bitcoin achieved a new all-time high, with its market capitalization reaching $1.93 trillion at a price of $97,850 per coin. This milestone allowed the leading cryptocurrency to surpass the market value of Saudi Aramco, the global oil and gas giant, whose capitalization now trails by over $100 billion.

David Ingles, Chief Editor for BloombergTV APAC, noted that if Bitcoin were a commercial company, it would rank sixth among the largest international corporations, positioned just after Amazon and slightly ahead of Saudi Aramco. For comparison, Meta, which owns Facebook, Instagram, and WhatsApp, has a market capitalization of $1.294 trillion—nearly $700 billion less than Bitcoin.

Reasons Behind Bitcoin’s Rapid Price Surge

Experts attribute Bitcoin’s meteoric rise to discussions within Donald Trump’s team about establishing a new government post to regulate the cryptocurrency market in the United States. This initiative could boost confidence in crypto-assets and create a more stable legal framework for their development.

Analytics firm Glassnode highlighted a significant increase in demand for Bitcoin among private investors and a surge of capital inflow into spot Bitcoin ETFs. Over the past 30 days, the cryptocurrency market has seen inflows exceeding $62.9 billion, with Bitcoin dominating the volume of funds received.

Bitcoin Strengthens Its Position in Global Rankings

Bitcoin’s new record underscores its role not only as a digital asset but also as a major financial instrument capable of competing with the world’s largest corporations. Surpassing Saudi Aramco’s market capitalization marks a symbolic moment for the cryptocurrency industry, demonstrating its growing impact on the global economy.

The rapid rise of Bitcoin also reflects shifting investor sentiment, as cryptocurrencies are increasingly viewed as long-term assets capable of rivaling traditional financial instruments.