Bitcoin Surges Past $88,000, Market Cap Exceeds Silver to Become World's Eighth Largest Asset, Tesla's Investment Yields 158% Return

Bitcoin Surges Past $88,000, Market Cap Exceeds Silver to Become World's Eighth Largest Asset, Tesla's Investment Yields 158% ReturnOn Tuesday, November 12th (Beijing time), Bitcoin broke through $88,000 for the first time in history. Its market capitalization has now reached $1

Bitcoin Surges Past $88,000, Market Cap Exceeds Silver to Become World's Eighth Largest Asset, Tesla's Investment Yields 158% Return

On Tuesday, November 12th (Beijing time), Bitcoin broke through $88,000 for the first time in history. Its market capitalization has now reached $1.751 trillion (approximately 12.68 trillion yuan), surpassing silver to become the world's eighth-largest asset. Since Trump declared his election victory on November 6th, Bitcoin has been setting new all-time highs almost daily, rising nearly 17% in the past five trading days. Bitcoin's skyrocketing has also pushed the total market capitalization of the global cryptocurrency market to break through $3 trillion for the first time in three years.

The Daily Economic News reporters found that in the last four trading days since November 6th, net funds flowing into Bitcoin spot ETFs have reached approximately $3.4 billion (about 24.6 billion yuan). The top five Bitcoin spot ETFs in terms of size have all risen by more than 25%, and their combined size has surpassed $70.4 billion.

With Bitcoin's surge, Bitcoin whales are naturally making a killing. Data from BitcoinTreasuries shows that Tesla, which has recently been reaping the rewards, has also gained significantly from its Bitcoin investment. As the fourth-largest Bitcoin holder among US listed companies, Tesla currently holds 9,720 Bitcoins, with a total value of about $870 million as of press time. Its earnings stand at $532 million (approximately 3.85 billion yuan), yielding a profit margin of 158%.

Looking ahead, many investment banks and investors, including Standard Chartered, expect Bitcoin to continue its upward trajectory and reach $100,000 by the end of the year. Zhao Wei, Senior Researcher at OKX Research Institute, pointed out in an interview with The Daily Economic News reporters that the surge in market sentiment and the influx of capital have jointly contributed to Bitcoin's rise, becoming crucial support for its continuous breaking of historical highs.

Current global economic uncertainty is increasing. How US economic policies will change, how Trump will implement cryptocurrency policies after assuming office, and how the cryptocurrency market will promote compliance are all major factors that will affect the future trend of Bitcoin and the entire cryptocurrency market, and they are information that traders need to pay close attention to, he said.

Bitcoin Spot ETFs Attract 24.6 Billion Yuan in Four Days

As of November 11th, Bitcoin spot ETFs traded in the US market hold $84 billion in assets, accounting for approximately 66% of the total assets managed by gold ETFs. Eric Balchunas, Senior Analyst at Bloomberg ETF, said that based on the current growth trajectory, spot Bitcoin ETFs are expected to completely surpass the asset management scale of gold ETFs within the next two months.

As Bitcoin approaches the $90,000 mark, its total market capitalization has reached $1.751 trillion, exceeding silver's $1.734 trillion to become the world's eighth-largest asset.

Bitcoins surge has also directly driven the rise of related Bitcoin spot ETFs.

The Daily Economic News reporters found that net funds flowing into Bitcoin spot ETFs reached approximately $3.4 billion (about 24.6 billion yuan) in the last four trading days since November 6th. Among them, Farside Investors, an investment management platform, revealed that on November 7th, the largest iShares Bitcoin Trust ETF (hereinafter referred to as IBIT) saw a single-day inflow of over $1 billion, pushing the total inflow of Bitcoin spot ETFs to exceed $1.3 billion, setting a new single-day record high. On the same day, IBIT closed at a volume of $4.1 billion, marking its highest single-day transaction volume since its launch.

From the perspective of ETF performance, the top five Bitcoin spot ETFs already listed have all seen a cumulative increase of around 25% from November 6th to 11th. The scale of these five ETFs has reached $70.4 billion.

Tesla Wins Again, Bitcoin Investment Yielding 158% Profit

Earlier this week, MicroStrategy, the Bitcoin leader, disclosed that the company raised approximately $2 billion through a new share issuance from October 31st to November 10th, purchasing 27,200 Bitcoins. The company currently holds 279,420 Bitcoins. On the same day, MicroStrategys share price surged nearly 26%, closing at $340 per share, reaching an all-time high. Data from BitcoinTreasuries shows that the total value of the Bitcoins held by MicroStrategy currently stands at around $25 billion, yielding a profit margin of 109.4%.

As evident from the above figure, Tesla, which has recently been reaping the rewards, is the fourth-largest Bitcoin holder among US listed companies, holding 9,720 Bitcoins. Since Trump announced his victory in the US presidential election, Tesla's share price has risen nearly 35% in the past four trading days. As of press time, the total value of Tesla's Bitcoin assets is approximately $870 million, while the investment cost is $338 million. This means that Tesla has earned $532 million in its Bitcoin investment, yielding a profit margin of 158%, significantly higher than MicroStrategys.

With the success of Bitcoin spot ETFs, many asset management companies have launched a series of ETFs based on other cryptocurrencies, including Solana, XRP, and Litecoin. These asset management institutions have also proposed several ideas for cryptocurrency index ETFs, offering investors diversified exposure to cryptocurrency assets.

Bitcoin to Hit $100,000 by Year-End? Analysts: Three Factors Will Influence Future Trajectory

Citi strategists recently pointed out in a report that cryptocurrencies are one of the few unretracted Trump trades, partly due to the Trump administration's crypto-friendly stance. On November 12th, US President-elect Trump is preparing to adopt a more relaxed stance on cryptocurrencies by the US government, seeking out candidates for key positions who are friendly to the cryptocurrency industry. Meanwhile, his senior advisors have been seeking advice from cryptocurrency executives on potential changes to federal policy. Initial discussions have focused on a series of financial regulators, including the US SEC.

Zhao Wei, Senior Researcher at OKX Research Institute, stated in an interview with The Daily Economic News reporters, During the US election, Trump repeatedly expressed support for cryptocurrencies, viewed by the market as a major positive development. His victory further drove the general rise of Bitcoin and the entire cryptocurrency market. He believes that the surge in market sentiment and the influx of capital have jointly contributed to Bitcoin's rise, becoming crucial support for its continuous breaking of historical highs.

Current global economic uncertainty is increasing. How US economic policies will change, how Trump will implement cryptocurrency policies after assuming office, and how the cryptocurrency market will promote compliance are all major factors that will affect the future trend of Bitcoin and the entire cryptocurrency market, and they are information that traders need to pay close attention to, he added.

Regarding the future trend of Bitcoin, many analysts hold optimistic expectations. Bitcoin options traders have currently set their sights on $100,000. According to data from the cryptocurrency options exchange Deribit, investors are placing a significant bet on Bitcoin reaching this milestone by the end of the year. As of Monday morning, approximately 9,635 Bitcoins (worth around $780 million) were held in open contracts betting on Bitcoin reaching $100,000 by December 27th, making it the largest trade for this date's contract. However, Deribit estimates that the probability of this contract expiring in profit is only 18.6%.

Standard Chartered Bank predicts that Bitcoin will continue to surge and reach $100,000 by the end of the year. By the end of 2026, the total market capitalization of the cryptocurrency market is expected to reach $10 trillion.

However, The Daily Economic News reporters have noticed that high volatility remains a key feature of Bitcoin's recent performance. In late October, Bitcoin had climbed to a high of over $74,000, but it pulled back in early November, dipping to $67,000 on November 4th. Subsequently, as the US election situation shifted, Bitcoin prices soared once again.

(Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Please verify before use, and you are solely responsible for risks incurred based on this information.)

Reporter | Cai Ding Editor | Chen Kemin, Lan Suying, Du Hengfeng Proofreader | Duan Lian Daily Economic News nbdnews Original ArticleAny unauthorized reproduction, excerpt, copy, and mirroring is strictly prohibited