Bitcoin Surpasses Berkshire Hathaway’s Market Value, Reaches $800 Billion Market Cap

Bitcoin (BTC), the original cryptocurrency, is gaining momentum as it overtakes the market value of American conglomerate holding company Berkshire Hathaway. On December 4th, BTC’s market cap rose above $800 billion, surpassing billionaire investor Warren Buffet’s company.

Over the weekend, Bitcoin surged past $40,000, causing its market capitalization to rise above $780 billion, just beating Berkshire Hathaway’s $779 billion on December 3rd.

Berkshire Hathaway’s class A (BRK.A) stock closed the market at $542 on December 1st, with a market capitalization of $779 billion. The stock has seen a slight decline recently, slipping around 1.3% over the past five days. However, it is still up 4.7% over the past 30 days and 14.7% year to date (YTD).

Compared to Bitcoin, the volatility of BRK.A is significantly lower. Bitcoin has surged 20% over the past month and almost 150% YTD. The cryptocurrency has been hitting multi-month highs, surpassing $41,000 on December 4th for the first time since April 2022.

As of now, Bitcoin’s market cap amounts to $811 billion, which is 4% higher than the market value of Berkshire Hathaway. Founded in 1839, Berkshire Hathaway is a multinational conglomerate holding firm headquartered in Omaha, Nebraska. Its main business is insurance, and it invests in a portfolio of companies, including Bank of America and Apple.

Cryptocurrency lawyer John Deaton commented on the news, saying, “That’s a pretty damn big bottle of rat poison.” This refers to the words of Berkshire Hathaway CEO Warren Buffett, who famously called Bitcoin “rat poison squared” in 2018.

According to data from CompaniesMarketCap, Bitcoin is now the 10th biggest asset by market cap, following Meta Platforms (formerly Facebook) and Nvidia, with market values of $834 billion and $1.2 trillion, respectively.

With Bitcoin’s market cap surging past $800 billion, the cryptocurrency is now 38% short of its all-time high market value posted in November 2021 when BTC price was closing at $69,000.

This current bullish action could mark the second time in the history of Bitcoin when its market capitalization reaches $1 trillion. Bitcoin previously broke a $1 trillion market cap in February 2021 at $53,700.