Bitcoin's market capitalization has reached $544.16 billion as of April 7, surpassing the market caps of several large companies such as Visa and LVMH, and securing the eighth spot on the list. The greater a cryptocurrency's market valuation, the more influential it is thought to be, making market capitalization a crucial factor in ranking various cryptocurrencies.

Although Bitcoin's value has increased significantly since the beginning of the year, it is still 59% behind its record high of $69,044 set in November 2021. Despite not being close to its all-time high, Bitcoin's popularity has continued to skyrocket, and it has surpassed several well-established and well-known companies in the tech and traditional finance industries.