Over the past few weeks, Bitcoin’s price has been increasing very impressively. Recently, Bitcoin’s market cap has hit $280 billion which is due to the recent surge in its price. The data reveals that the market capitalization of Bitcoin is quite larger than the major companies based in the U.S. whose market cap is surpassed by Bitcoin includes Verizon, PayPal, Adobe, Bank of America, Disney, Coca-Cola, Netflix, and Salesforce. Bitcoin Market Cap Increased by $100B in One Year Back in the previous year, the market capitalization of Bitcoin was $180 billion. This year it has increased by $100 billion which is quite a huge increase by considering the hard-time that the market has faced this year. Even though Bitcoin’s market cap is quite higher than some major companies but it is still quite low from prominent firms like Mastercard, JPMorgan Chase, and Visa. In order to surpass its market cap, Bitcoin’s price will have to reach $23,000 as then its market cap will reach $426 billion. Apple is above all of these firms as it is having a market cap of $2 trillion. In order to surpass this, Bitcoin’s price needs to reach $120,000 which is going to take quite a long time. Gold is Quite Ahead of BItcoin Just like Gold, Bitcoin is often called a store of value as it also proves to be of great help during the time of economic crisis. However, in order to reach its level, Bitcoin will have to strive for a very long time. At the present time, Gold’s market cap is more than $8 trillion which is extremely high from Bitcoin’s market cap. Bitcoin’s price has to reach $380,000 per coin in order to surpass the market cap of gold which is not happening anytime soon. Currently, the price of the largest cryptocurrency is $15,482 and is now expected to accelerate further.
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