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In the letter
- Bitcoin surpassed Mastercard for its total market capitalization.
- The cryptocurrency achieved a market capitalization of nearly $ 335 billion.
- Lately, Bitcoin has also overtaken giants like PayPal, Nvidia, and Disney.
The total market capitalization of Bitcoin (BTC) surpassed that of Mastercard today, placing the cryptocurrency in 16th place among the largest companies in the world, according to the monitoring platform. AssetDash.
The market capitalization of Bitcoin stands at nearly $ 338 billion while the price of the coin hovers around $ 18,270. According to data from AssetDash, Bitcoin’s capitalization increased by 3%, enough to bring payment giant Mastercard back to 17th place as its market capitalization dropped 0.6%.
In the corporate world, market capitalization represents the total dollar market value of a particular company’s stock. For Bitcoin, the limit represents the combined price of all BTCs currently in circulation. As the price of the coin increases and its supply increases, so does the market capitalization of Bitcoin.
As the price of BTC continues to rise steadily, Bitcoin may outperform even more “opponents”. Next on the list, for example, is Procter & Gamble with a market cap of around $ 346 billion, and Bitcoin is now only $ 8 billion. At the same time, $ 15 billion currently separates Bitcoin from overtaking banking giant JPMorgan Chase & Co.
Among the other companies that Bitcoin has already left in the dust are Nvidia ($ 327 billion), Walt Disney Company ($ 253 billion), Bank of America ($ 231 billion), Coca-Cola Company ($ 226 billion), and PayPal ( $ 223 billion).
How Decrypt reported, Bitcoin’s market cap hit a new all-time high on November 17 after hitting $ 330 billion. This means it has made an additional $ 8 billion in just three days in its current bull run.
Investments made in Bitcoin by large companies like MicroStrategy and Stone Ridge, public support for cryptography from prominent financial experts, the recent Bitcoin halving and other factors have also given a big boost to the price of Bitcoin in the last months. But will they be enough to go further?
