Bitcoin Overtakes MasterCard By Total Market Capitalization

Bitcoin’s market capitalization depends on how its price value behaves. As the price of the leading cryptocurrency is continuously on a significant rise, its market cap is also going up potentially. Alongside Bitcoin’s break above $18,000 the market cap of BTC has also neared $340 billion. Bitcoin has added more than $20 billion into its market cap over the recent few days. Now, the top-ranked cryptocurrency has a greater market cap than that of MasterCard, an American multinational financial services company.

According to the data by the asset tracking site Asset Dash, Bitcoin has now become the 16th-largest asset in the world in terms of market cap after surpassing MasterCard. During the past 24 hours, the market cap of the top digital coin has surged high by more than three percent and has reached $338 million at the press time. While on the other hand, the market capitalization of MasterCard has witnessed a drop of nearly 0.6 percent. Due to this loss, the financial services company has moved down to the 17th spot now as shown on Asset Dash’s site.

Bitcoin’s bull market is not over yet as its price value is continuously flowing in the upward direction. This means that if the BTC price rises in the coming days, its market cap will automatically increase. So, the world’s largest cryptocurrency is expected to outshine other major financial firms as well that are currently ahead of the coin in terms of market cap.

The next on the target list of Bitcoin are the American multinational consumer goods corporation Procter & Gamble ($345 billion), the American multinational investment banking and financial services company JP Morgan Chase & Co ($352 billion), the famous medical device company Johnson & Johnson ($387 billion), and the America-based financial services giant Visa ($403 billion), respectively. Bitcoin only needs $14 billion now to overtake JP Morgan Chase.

Bitcoin already has a greater market cap than that of Home Depot, the Bank of America (BOA), Coca-Cola Company, the online payment giant PayPal, and Netflix. Once Bitcoin achieves its all-time high value, it will get closer to enter into the list of top ten assets in the world by market cap.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

Leave a Reply

Your email address will not be published. Required fields are marked *