- Bitcoin market cap now over $200 billion
- The leading crypto outperforms Goldman Sachs, JP Morgan stock
- Bitcoin anticipated to hit new All-Time High (ATH)
At $284 billion, Bitcoin market cap(italization) now values among the top 20 biggest firms by market capitalization in the US.
Precisely, with Bitcoin at $284 billion, the cryptocurrency ranks above Verizon, the 18th biggest firm in the US. Verizon market cap is estimated at $242 billion. However, Bitcoin is below the 17th largest firm in the US, Home Depot. The online retail firm worth $306 billion by market capitalization.
In light of where Bitcoin ranks, the leading crypto value is higher than several other global firms like Netflix, PayPal, Merck, Disney, and Adobe.
The leading crypto managed to value so much after its price rose from $190 billion to around $284 billion. In September, Bitcoin market cap was about $190 billion while it trades around $10,000. Since then, Bitcoin price surged gradually to over $15,000, which it trades for now.
Bitcoin outperforms JP Morgan, Goldman Sachs stock
Since September, Bitcoin has surged by close to 42 percent. JPMorgan Chase and Goldman Sachs, two of the world’s biggest banks, were once Bitcoin critics but now are more welcoming of the digital asset. The stocks of these leading banks paled in comparison to Bitcoin’s performance in 2020.
Since the market crash in March, JPMorgan Chase and Goldman Sachs have recorded roughly 31 percent and 50 percent rally. In that same period, Bitcoin has climbed by nearly 250 percent.
However, the crypto is still behind JP Morgan Chase, Goldman Sachs, and Visa by market cap. Bitcoin market cap has to hit $426 billion or trade at $23,000 before it can lead all three firms.
How Investors rouse to Bitcoin would improve Bitcoin market cap
Analysts continue to look forward to Bitcoin hitting new prices and discover a new all-time high (ATH) price between the end of 2021 and early 2021.
Bitcoin hit a record ATH in 2017, 15 months after halving in 2016. 2020 Bitcoin halving, which occurred in May, is projected to result in new ATH by July 2021.
Analysts predict that with Bitcoin being perceived as a store of value, the crypto’s valuation would improve. eventually, it would significantly enhance Bitcoin’s price, tank the crypto market cap, and improve its rank among top US firms.