COINOTAG News reported on September 1 that, according to data from 8 Market, Bitcoin briefly fell below $118,000, reducing its market cap to $2.183 trillion. That valuation now sits under silver, which has a market capitalization of $2.333 trillion, placing Bitcoin as the 8th largest global asset by market value.

These figures from 8 Market and reporting by COINOTAG News reflect an observable reordering of asset rankings. Market participants and analysts should factor the updated Bitcoin market cap and comparative silver market cap into assessments of macro asset allocation and relative size within the global investable universe.