Thank you @TokenPost for the mention. I do believe that Bitcoin and selected cryptocurrencies that have real utility will continue to flourish in this space.
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Bitcoin (BTC) is worth more than the world’s three largest banks combined
Bitcoin recently set a new all-time high when it traded above $61,000. With the surge in its price, the world’s largest crypto by market capitalization is now worth more than the combined value of the top two payment platforms Mastercard and Visa. BTC is now even more valuable than the combined market cap of the world’s three largest banks JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China (ICBC).
BTC set a new all-time when it traded at $61,700 last week, according to Cointelegraph. The crypto’s sky-high price also pushed its market capitalization to a new record of around $1.15 trillion.
With this valuation, Bitcoin is now worth more than the combined capitalizations of two of the world’s largest payment platforms Visa and Mastercard. The combined value of the two payment networks is $871 billion, which is only around 76 percent of BTC’s valuation at its peak.
“Bitcoin’s market cap ($1 trillion) is more than #VISA ($379 billion) and #Mastercard ($492 billion) combined,” investor Anndy Lian tweeted on March 16, 2021. “This is the power of #cryptocurrencies.”
During the time of the tweet, Visa’s market cap is $492.27 billion. Meanwhile, Mastercard’s market valuation is $379.22 billion.
At its all-time highs of $61,700, Bitcoin’s market cap was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China is $1.08 trillion.
Bitcoin’s market cap is even bigger than the combined capitalization of the three largest banks in the world. The world’s largest crypto is more valuable than JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China (ICBC) combined.
According to data from Companiesmarketcap.com, JPMorgan Chase is worth $473.25 billion, Bank of America’s market cap is $327.40 billion, and the Industrial and Commercial Bank of China’s cap is $291.22 billion. This means that the world’s top three banks’ combined market capitalization is $1.09 trillion, around 95 percent of BTC’s market cap of $1.15 trillion.