After rebounding last week, Bitcoin's market capitalization has surpassed that of Tesla and Samsung, two publicly traded companies. Data shows that BTC's market cap is currently around $1.615 trillion, rising to the 13th position among major global assets, with Tesla and Samsung ranking just behind it.
Reached $81,000 over the weekend
According to CompaniesMarketCap data, Tesla’s current market capitalization is approximately $1.438 trillion, while Samsung’s is around $1.237 trillion. Historical data from CoinGecko shows that Bitcoin’s market capitalization reached approximately $1.63 trillion on September 20, following a price rebound to $81,000 over the weekend.
Bitcoin rose to $81,914 on Saturday before experiencing some profit-taking. At the time of writing, BTC was down 1.02% over the past 24 hours at $80,762.
Bearish factors failed to suppress the market's rebound.
Last week, the market faced multiple pressures. The Federal Reserve's interest rate hike on Wednesday typically puts downward pressure on risk assets such as cryptocurrencies, but Bitcoin and other digital assets did not weaken as a result; instead, they continued to rise.
Meanwhile, the U.S. Senate failed to pass the Clarity Act, which received only 49 votes on Tuesday, falling short of the 60 needed for approval. After the announcement, Bitcoin briefly dropped below $74,887 but quickly stabilized, indicating that the market had already priced in this outcome.
SEC's new move boosts sentiment
Another factor driving the market recovery comes from the U.S. Securities and Exchange Commission (SEC), which issued an order establishing a regulatory pathway for trading venues to issue tokenized representations of U.S.-listed stocks, effective immediately.
The market subsequently viewed this development as positive. Despite an unexpected shift toward tighter global monetary conditions, crypto assets continued to rise in the latter part of the week. As regulators provided clearer operational guidance for tokenized securities trading, Bitcoin surged past $81,000 on Friday and reached its peak for this cycle on Saturday.
From its Wednesday low of $74,962, Bitcoin has experienced a significant rebound over four days. This rally has also pushed its total market capitalization back among the top global assets.