The Current Worth of Bitcoin Exceeds Visa and MasterCard Combined
Bitcoin has had its fair share of market madness and unintended turns, which landed the cryptocurrency on the ground, but it has passed the test of time and, with enough perseverance, has become successful in beating the world’s three biggest banks according to the market cap suggests real-time data. It did not only break the $60k threshold but also managed to outwit both Visa and MasterCard in terms of the overall value and the market capitalization.
When it did break the $60k resistance and settled for $61.7k a BTC, the overall market cap of Bitcoin was about $1.15 trillion, which surpassed the combined market cap of $1.08 trillion for Bank of America, JPMorgan Chase, and the commercial bank of China. This is some significant accomplishment for Bitcoin, a cryptocurrency that was before doubted by the world’s largest financial experts and was only predicted to fail, but it has come through and has done something incredible for not only itself but also for those who continued to believe in it.
The list of accomplishments doesn’t simply stop right here as it has also surpassed Visa and MasterCard, which are the world’s largest payment networks in terms of the market cap. As their market cap is around $871 billion as for Bitcoin, it is around $1.15 trillion, so Bitcoin is definitely taking the lead in this sector.
Gold Might not Remain the Primary Investment Asset for Long
The recent data retrieved from the on-chain analytics suggest that Bitcoin has equalled 45% of the gold that is being held on in the form of investments and has come closer to about 10% of the gold that exists within the physical markets. It is not only an accomplishment, but if the rise of Bitcoin continues with the current momentum, then it is not too far when Bitcoin will definitely replace gold as the primary source of investment for people.
It might not happen right away, or it might require Bitcoin years to reach there, but it has surely begun the race even if it is placed at the far end from the get-go. One can only hope that the crypto market will hold for some more time, and the bullish runs might always stay with Bitcoin, but then at the end of the day, it is the crypto market and its volatility; nothing can be said for certain.
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