Bitcoin Now Values More than MasterCard and Visa Combined
Right when the cryptocurrency and mainstream BTC investors thought it was going bearish, BTC went ahead and again hit an all-time high. It was just last week that Bitcoin (BTC) not only hit the $60k per BTC mark but it crossed it and went all the way up to $61.7k per BTC.
It once again showed the entire world what the largest cryptocurrency in the world is capable of achieving. However, as the entire world saw Bitcoin (BTC) breaking the $60k barrier, what they didn’t see was that it also achieved way more than that.
If you are a millennial then there is no doubt that you have grown up seeing cards from MasterCard and Visa. MasterCard and Visa are both financial giants and banking solutions in the entire world.
However, both financial giants found themselves helpless when they saw Bitcoin (BTC) surpassing them in terms of market capitalization. As of now, the market capitalization of Bitcoin (BTC) is more than the market capitalization of either of the financial giants.
At the time of publishing, the market capitalization of MasterCard is $382.38 billion while the market capitalization of Visa is $224.70 billion. Therefore, the combined market capitalization of both firms is $607.08 billion.
On the other hand, the market capitalization of Bitcoin (BTC) alone is more than $1 trillion that more than the market capitalization of both financial giants combined.
Apart from surpassing MasterCard and Visa, Bitcoin (BTC) has also managed to surpass the market capitalization of three major banking giants. The names of the banking giants that Bitcoin (BTC) has surpassed include the Industrial and Commercial Bank of China, Bank of America, and JPMorgan.
At the time of publishing, the market capitalization of the Industrial and Commercial Bank of China is $255.01 billion. The market capitalization of Bank of America is $324.73 billion and the market capitalization of JPMorgan is 468.44 billion.
Therefore, the combined market capitalization of all three banking giants is currently sitting at $1.05 trillion. However, last week, when Bitcoin (BTC) hit an all-time high of $61.7k per BTC, its market capitalization went all the way up to $1.15 trillion.
As a result, the market capitalization of Bitcoin (BTC) alone managed to surpass the combined market capitalization of all three banking giants, which at that time was around $1.08 trillion.
After, after hitting an all-time high of $61.7k per BTC, Bitcoin’s price experienced a correction and is now hovering at $55k per BTC. The most satisfactory part about BTC’s current price run is that it has become stable above the $55k mark.
From this point, it is expected that Bitcoin (BTC) price would only experience a surge than face a downfall.