Bitcoin Is Now the 21st Biggest Asset in the World By Market Cap
Bitcoin, the world’s most popular cryptocurrency has made really impressive progress over the past few days especially since the 4th of November when Bitcoin started a bullish rally and broke above the $14k level. Since then, Bitcoin has been rallying higher and broke several crucial resistances including $15,000 which has set a bullish trend for the top-ranked digital currency. Bitcoin even touched its three-year highest value of $16,000 for a shorter period of time. Currently, the price value of BTC is trading at $15,542.04 USD, at the press time.
Due to this explosive rally, the market capitalization of Bitcoin (BTC) has also surged high. As per CoinMarketCap data, Bitcoin’s market cap has skyrocketed to $290 billion. And now, the leading digital currency has become the 21st biggest asset in the world in terms of market capitalization. It is a significant achievement for Bitcoin.
Source: Asset Dash
Bitcoin has overtaken various major financial institutions to reach this milestone. These include online payment giant PayPal ($237 billion), Netflix ($227 billion), Coca-Cola Company ($212 billion), and the Bank of America as well whose market cap stands at around $210 billion. The American multinational investment banking and financial services firm Bank of America (BOA) is now ranked at the 30th spot which makes it nine places behind the top digital asset Bitcoin.
Currently ranked at 21, Bitcoin is now on the verge to enter the list of the top twenty assets of the world by market capitalization. Bitcoin is now only $25 billion far away from overtaking financial services firm MasterCard ($312 billion) and the major investment banking company JP Morgan Chase & Co ($313 billion). The top three assets are Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) with a market cap of $2.01 trillion, $1.69 trillion, and $1.66 trillion respectively.
In addition to this milestone, the social media platform Reddit’s r/investing community now features Bitcoin on the front page and has 1.2 million members. These members include retail as well as institutional investors.
These achievements show how brilliantly the world’s largest digital currency is performing in order to gain mainstream recognition across the whole world.
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