![Bitcoin crosses $44k as market cap outstrips Meta](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/12/bitcoin-train.jpg&w=70&h=37&q=75)
Quick Take
Bitcoin, the pioneering digital asset, has seen a noteworthy rally, escalating past the $43,000 threshold and momentarily touching $44,000 before undergoing a slight retracement. The ripple effect of this rapid ascension culminated in a significant $230 million liquidation in the crypto market within the past 24 hours, according to Coinglass. Nonetheless, the digital coin has marked a solid gain of over 4% today.
![BTCUSD: (Source: Trading View)](https://cryptoslate.com/wp-content/uploads/2023/12/BTC1.png)
Bitcoin has leapfrogged Meta in terms of market capitalization, earning it the position of 9th most valuable asset. This jump could indicate a consequential shift in the hierarchy of financial assets, given the nascent nature of cryptocurrencies compared to traditional corporate giants like Meta. With this momentum, Bitcoin is now on a trajectory toward the coveted $1 trillion market cap, a milestone that would further cement its position in the global financial landscape.
![Assets by market cap: (Source: companiesmarketcap)](https://cryptoslate.com/wp-content/uploads/2023/12/bk.png)