Bitcoin’s market cap has just surged past the largest institutions that include Bank of America and more.
Just the other day, it’s been revealed that Bitcoin’s (BTC) market cap now exceeds the valuation of some of the world’s largest financial institutions amid a sustained bull run that catapulted the largest crypto asset above $48,000.
“CoinMarketCap shows that Bitcoin’s market capitalization has soared above $900 billion as it printed a new all-time high of $48,745 on February 12th, surpassing the valuation of financial giants Visa ($462.93 billion), PayPal ($349.44 billion), and Mastercard ($339.10 billion). Bitcoin’s market cap is also larger than the combined value of JPMorgan Chase ($430.72 billion), Bank of America ($288.67 billion), and Citigroup ($132.48 billion) with an aggregate market cap of $851.87 billion, according to data from CompaniesMarketCap,” the online publication the Daily Hodl says.
The king coin is the ninth one on the list of important assets by market cap.
Check out the list below to see more entities that made it there.
Bitcoin could surge to $500k
The optimistic predictions about the price of Bitcoin continue to pop up. Check out the latest one that Mike Novogratz released.
It’s been just reported that Mike Novogratz, CEO of crypto management firm Galaxy Digital, is revealing when he thinks Bitcoin will hit his target of $500,000.
According to the latest reports, in discussion with Michael Saylor on the WORLD.NOW event hosted by MicroStrategy, Novogratz proposed that Bitcoin will continue to perform well, more so as a store-of-value asset rather than as a currency.
“I think we’ve hit a tipping point in this network effect I talked about, and my base case is: if I look at Bitcoin as a percentage of gold, I think Bitcoin is going to be digital gold. I know a lot of people disagree with me. They’ll think, ‘No, it going to be money. It’s going to be the blockchains of all blockchains,’ I just don’t think so. I think it’s got a beautiful lane as a store of value. It was perfectly designed as a store of value,” he said.