In September 2020, the world’s largest cryptocurrency Bitcoin market cap was hovering around $190 billion while the price of it was hovering around $10,000.
During the last two months, the dominant cryptocurrency witnessed massive gains and increased to more than $15,000. Therefore, the market capitalization of Bitcoin rose from $190 billion to around $280 billion and surpassed some big-name companies by market cap, even banks.
Comparing BTC’s valuation to publicity-listed firms in the United States id would match the 18th most prominent firm.
The 17th most prominent company in the U.S. is Home Depot, with a $306 billion market capitalization.
Since Bitcoin’s market capitalization is currently around $280 billion, it is bigger than all of the companies in the United States outside of the top 17.
As we already mentioned, Bitcoin became more valuable than most leading U.S. companies, such as Netflix, PayPal, BofA, Coca-Cola, Salesforce, and Disney.
If Bitcoin hit 23,000, it would surpass Visa, Mastercard and JPMorgan
BTC is still behind the three largest financial institutions in the United States by valuation; such are Visa, Mastercard, and JPMorgan. For Bitcoin to surpass all three, it would need to reach $23,000 or a $426 billion market capitalization.
Additionally, the price of dominant cryptocurrency much hit somewhere about $120,000 for BTC to surpass Apple. In fact, it is the most valuable company globally with a market capitalization of $2 trillion.
Besides, analysts expect Bitcoin to rally during 2020 and early 2021. Thus, anticipating Bitcoin to enter price discovery and reach new records.
We all remember that Bitcoin hit a record high 15 months after the 2016 block reward halving, in 2017. The world’s largest cryptocurrency witnessed its latest halving in May 2020. Therefore, the possibility of a new peak in the middle of 2021 is high, based on historical cycles.
According to cryptocurrency investors and analysts, BTC’s perception as a durable store of value would lift its valuation.
A former Google and Morgan Stanley alumni, Tyler Reynolds, reported that BTC’s fixed supply makes it compelling as a hedge versus government spending.
Moreover, the billionaire Wall Street hedge fund manager Paul Tudor Jones mentioned Bitcoin as an ideal inflation play.
The dominant cryptocurrency is particularly appealing to institutions as it could act as a hedge within a diversified portfolio. However, also give investors exposure to Bitcoin’s asymmetric risk-reward potential.
Compared to companies like Visa and safe-haven assets such as gold, the relatively low market capitalization of Bitcoin shows there is significant room for further increase in the following years.
Some really choice articles on this web site , saved to bookmarks. Dayna Gardiner Natalee
Absolutely pent content material , appreciate it for entropy. Ania Nick Wanonah
Thanks for another informative website. Where else may I am getting that kind of information written in such an ideal manner? I have a challenge that I am simply now working on, and I have been on the glance out for such information. Ursola Nicholas Ebby
I was suggested this web site by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my trouble. You are wonderful! Thanks! Miran Field Sankey
Very interesting info!Perfect just what I was looking for! Anstice Merle Urissa
Greetings! Very helpful advice within this article! It is the little changes that produce the most significant changes. Thanks for sharing!| Shawn Brig Gard
Hello, I desire to subscribe for this weblog to get newest updates, so where can i do it please assist.| Kip Mendy Dymoke
Its like you read my mind! You appear to know a lot about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but instead of that, this is fantastic blog. A fantastic read. I will certainly be back. Maud Stacy Luht
one of our guests not long ago proposed the following website Cristie Port Breech
Good day very cool website!! Man .. Beautiful .. Wonderful .. I’ll bookmark your blog and take the feeds additionally? I am satisfied to find numerous helpful info right here in the post, we want develop extra strategies in this regard, thank you for sharing. . . . . .| Gabrielle Mahmoud Sikata
That theory probably falls into the mistake category of assuming omnipotence. Alisa Nickolai Sitarski
Looks like you are the first to cover this long-awaited feature! Nichole Gearalt Jayson
I will bookmark your weblog and take a look at again right here regularly. Beryle Adrien Boyden
Howdy, I do believe your blog might be having browser compatibility issues. Lissie Adelbert Romelle
For hottest news you have to visit world-wide-web and on the web I found this website as a best web site for most up-to-date updates. Lolita Dietrich Ransell
Here are several of the web pages we recommend for our visitors. Siobhan Les Woermer
I truly appreciate this article. Really thank you! Awesome. Liane Lutero Stoeber
I am incessantly thought about this, thank you for putting up. Delia Truman Lesser
We came across a cool web page that you just may get pleasure from. Take a search should you want. Joelly Thorndike Kelila
Way cool! Some extremely valid points! I appreciate you penning this post and the rest of the website is also really good. Agnese Valdemar Braca
I am always thought about this, thanks for posting. Cybill Ronnie Lenna
Hello, I want to subscribe for this weblog to get hottest updates, so where can i do it please assist. Carmelle Hyatt Andromeda
This is my first time pay a visit at here and i am genuinely happy to read everthing at alone place. Ardella Andre Monreal
Hello. This article was really motivating, particularly because I was browsing for thoughts on this topic last couple of days. Rozele Ty Touber
Good post. I learn something new and challenging on sites I stumbleupon everyday. Annabela Shermy Erick
Hello mates, its enormous piece of writing about educationand entirely explained, keep it up all the time. Philipa Alvy Keelia
I believe this internet site has some real great info for everyone :D. Vallie Dick Imogene
Right now it seems like Movable Type is the preferred blogging platform available right now. Ertha Chen Travers
Just wanna input on few general things, The website design is perfect, the written content is very fantastic : D. Evey Barnebas Christie
Yes! Finally someone writes about set timer for 50 minutes. Bree Cullin Anastas
Some really rattling work on behalf of the owner of this internet site, utterly outstanding articles. Ansley Callean Bolanger
You want to give your readers as little to complain about as possible so they will come back to your site often. Melitta Udale Madalyn
This paragraph is in fact a fastidious one it assists new net users, who are wishing for blogging. Ninnette Bartholomeus Vaden
I really enjoy the article. Really looking forward to read more. Much obliged. Karla Gerome Hadwin
Thanks-a-mundo for the blog post. Really looking forward to read more. Great. Jewel Guthrey Cleland
Thanks for sharing, this is a fantastic article post. Want more. Latia Keir Lynn
Wonderful article! We will be linking to this particularly great article on our site. Keep up the good writing. Dorrie Colver Lodovico
Excellent, what a web site it is! This blog provides valuable facts to us, keep it up. Gratiana Tripp Novak
I am so grateful for your article post. Really looking forward to read more. Fantastic. Oneida Harald Eudocia
Very good post. I am facing a few of these issues as well.. Charlot Brigham Thetis
Awesome! Its actually awesome piece off writing, I have got much clear ideea regarding from this post. Alaine Lorenzo Buine
Dead indited articles, Really enjoyed reading through. Liane Lutero Stoeber
The time to study or visit the material or sites we have linked to beneath. Korney Percival Derril
Hi there, its pleasant piece of writing on the topic of media print, we all be aware of media is a wonderful source of data. Caterina Raviv Tuchman
There as definately a great deal to know about this subject. I like all the points you have made. Saloma Julie Kassia
Right away I am going away to do my breakfast, once having my breakfast coming again to read other news. Rey Rudolfo Margarida
I really liked your blog. Really thank you! Want more. Carla Zacharias Peppy
I am sure this paragraph has touched all the internet users, its really really fastidious piece of writing on building up new weblog. Viviana Salomon Townshend
Many thanks extremely valuable. Will certainly share website with my friends. Constancia Cori Lemaceon
I all the time emailed this website post page to all my contacts, because if like to read it after that my contacts will too. Berry Halsy Nanette
Touche. Outstanding arguments. Keep up the amazing work. Zara Tannie Wichman
These are genuinely fantastic ideas in on the topic of blogging. You have touched some pleasant things here. Any way keep up wrinting. Billi Nap Dumm
Fastidious answer back in return of this query with firm arguments and telling the whkle thiing regarding that. Nickie Gregorius Jeniffer
I am sure this paragraph has touched all the internet users, its really really pleasant article on building up new website. Ardath Byram Meras
You completed several nice points there. I did a search on the issue and found the majority of folks will consent with your blog. Berta Cletis Kaine