Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Goodcat49 on August 08, 2020, 09:03:06 PM
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As crypto prices continue climbing, Bitcoin's market cap has almost reach par with Bank of America's market cap.
All the speculative capital invested in Bitcoin (BTC) at the moment totals just a few billion dollars shy of Bank of America's market valuation.
Bitcoin's current market cap sits just over $217 billion, according to Cointelegraph data at press time, while Yahoo Finance shows Bank of America's market cap holding slightly over $226 billion — a comparison introduced in a recent article from The Next Web.
Bitcoin's market cap climbing in comparison
Although it has endured its fair share of dramatic price fluctuations, Bitcoin's price has grown substantially in 2020, rising past several different wealth comparisons along the way.
Back in March, just before COVID-19 measures turned the world on its head, the United States Central Bank pumped the economy with $168 billion in capital. At the time, Bitcoin's market cap held near $145 billion.
In April, Amazon CEO Jeff Bezos' touted a net worth of approximately $140 billion, with Bitcoin's market cap near $130 billion. On paper, it seemed Bezos could have bought all the Bitcoin in circulation with a few billion to spare, although the mass purchase would likely prove impossible in real life due to factors such as rising prices and liquidity.
Since then, Bezos' net worth has reached a staggering $193 billion. Bitcoin's valuation, however, remains higher near $217 billion.
https://cointelegraph.com/news/bitcoin-is-almost-as-big-as-bank-of-america
(https://images.cointelegraph.com/images/717_aHR0cHM6Ly9zMy5ldS1jZW50cmFsLTEuYW1hem9uYXdzLmNvbS9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMDgvMGYwY2Q0N2MtMTNhNS00YWIwLTg3MTctNmVkMTc2ZTJmNDhiLmpwZw==.jpg)
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This is quite expected as more and more money both from individuals and institutions are right now pouring into Bitcoin with the great hope that it can be rising more and that there remains a big potential for it to balloon more. This is more into speculations though rather than adoption. On this aspect alone, I am seeing some similarities with what happened in 2017 though some are saying that we are now facing a more mature and more savvy investors.