Over the past few months, Bitcoin’s total value has reached approximately $280 billion and its market capitalization exceeded major US companies like PayPal, Coca-Cola, Disney, and Netflix.
In September, the price of Bitcoin (BTC) was nearly $10,000, and its market capitalization was circulating around $190 billion, while over the past couple of months, BTC price surged to $15,000, and the market cap reached $280 billion.
When compared to publicly-listed US companies, Bitcoin is currently equivalent to the 18th largest commercial firm.
By valuation, Bitcoin remains behind the top three financial institutions in the US - Visa, Mastercard, and JPMorgan. To beat these three, the cryptocurrency price would need to reach $23,000, and its market cap should hit $426 billion.
Nevertheless, to catch up to the world’s most valuable company Apple, the BTC price has to hit $120K.
According to the market analysts, Bitcoin cryptocurrency will keep on surging, and its price is expected to reach a new all-time record in 2021.
The ex-Google and Morgan Stanley alumni Tyler Reynolds wrote that “the next bull run will be led by BTC with the very narrative that OGs have been saying since 2011: Bitcoin’s hard supply cap makes it a durable SoV as governments devalue their fiat currencies to support unconstrained government spending.”