Key Takeaways
- Silver has overtaken Alphabet to become the fourth-largest asset in terms of market capitalization.
- Tightening inventories and strong demand from renewable energy, electric vehicles, and data centers are driving the rally.
Silver has overtaken Alphabet, Google’s parent company, to rank as the world’s fourth-largest asset by market capitalization, hitting roughly $3.7 trillion after prices broke above $66 for the first time ever.
The milestone was achieved just days after the metal leapfrogged tech giant Microsoft to become the world’s fifth most valuable asset.
Silver is up more than 125% this year, as investors continue to pile into inflation hedges and industrial alternatives to gold and digital assets.
The recent price rally comes amid a mixed US labor report showing rising unemployment but stronger payrolls. Markets expect the Fed to hold rates in January, and investors are watching upcoming inflation data and Fed remarks. The rise is also boosted by supply constraints and growing industrial and retail demand.
Silver is now closing in on Apple’s roughly $4 trillion valuation.
Source: https://cryptobriefing.com/silver-market-cap-surpasses-google-alphabet/
