TL;DR Breakdown
- Bitcoin market cap is now over $500 billion
- This makes it the biggest financial service in the world
If anyone had foreseen that the Bitcoin price was going to be hitting above the $25k mark earlier this year, such a person would have been derided and he would have been labeled a joker. But Bitcoin price not only exceeded that, the coin is hitting very close to the $30k mark.
The same way it would have made for a very laughable subject if anyone had ever spoken about Bitcoin market cap one day being able to beat that of Visa and MasterCard. But that is the reality of today, Bitcoin market cap has totally usurped two of the biggest financial institutions in the world.
Presently, Bitcoin has reached a staggering $524 million in its market cap size. This places the crypto asset on par with other institutional giants like Tencent and Alibaba based on the size of their market cap.
Bitcoin was able to achieve this feat due to its incredible rally of late that saw the digital asset value rise to its current all time high of $28,537. Ever since getting to this high, the coin has been moving between the $26k and $28k level.
Bitcoin market cap makes it the largest financial service in the world
Since Bitcoin market cap usurped that of Visa, Bitcoin has become the largest financial service in the world.
While it may not be so easy to compare both because Bitcoin is a P2P software while Visa, on the other hand, is a business geared to harness profit. However, theoretically, the crypto asset is now one of the largest companies in the world based on market cap. It is ahead of companies like Samsung, Walmart, Coca Cola and others.
Bitcoin’s market cap rise can be linked to the asset rise in price which was driven by the large amount of institutional investors.
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