Bitcoin (BTC) did more than hit $60,000 per coin last week — it also became worth more than the world’s three biggest banks combined.
According to publicly available data, the largest cryptocurrency surpassed the three highest-valued global banking giants by market capItalization.
Bitcoin market cap blasts past financial stalwarts
At its all-time highs of $61,700, Bitcoin’s market cap was roughly $1.15 trillion. The combined market cap of JPMorgan, Bank of America and The Industrial and Commercial Bank of China (ICBC) is $1.08 trillion.
The achievements do not stop there — Visa and Mastercard, the biggest payment networks, have a combined market cap of $871 billion, also now significantly less than Bitcoin.
Since then, BTC/USD has seen a slight pullback, bringing its market cap down to $1.03 trillion, still holding the significant trillion-dollar-asset title.
That level was previously tipped by analysts as a likely consolidation zone, something which remains the case after Monday’s dip took Bitcoin back below its previous all-time high set in late February.
Its ascent, others have noted, is impressive — Bitcoin went from zero to $1Title: Bitcoin is now worth more than Visa and Mastercard combined
Sourced From: cointelegraph.com/news/bitcoin-is-now-worth-more-than-visa-and-mastercard-combined
Published Date: Tue, 16 Mar 2021 12:19:40 +0000