At the beginning of September this year, when the price of BTC hovered around $ 10,000, the market capitalization of Bitcoin (BTC) was around billion 190 billion.
In the last two months, however, the value of Bitcoin has risen to over 15,000. With that, the market cap of Bitcoin increased from 190 190 billion to 28 280 billion. This now makes Bitcoin more valuable than most US companies.
Bitcoin is the equivalent of the 18th largest trading company in the US
If the valuation of Bitcoin is compared to the U.S. If done with publicly listed companies in, it will match the 18th largest company.
Home Depot is the 17th largest company in the US with a market cap of 30 306 billion. Verizon comes behind it with a valuation of 24 242 billion, which makes a big difference between the two.
With Bitcoin currently having a market cap of around 28 280 billion, it is larger than all US companies outside the top 17.
Companies that have overtaken Bitcoin in recent months include some big names like Netflix, PayPal, Bofa, Coca-Cola, Salesforce and Disney.
Bitcoin is still in the U.S. In Visa, MasterCard and JPMorgan are the three largest financial institutions. In order for the top cryptocurrency to surpass all three, it would have to hit a market cap of $ 23,000 or 42 6,426 billion.
However, the price of BTC must reach around 120K for Bitcoin to reach the world’s most expensive company Apple Pal with a market cap of tr 2 trillion dollars.
Investors will be aware of the possibility of Bitcoin’s asymmetrical risk-reward
Meanwhile, analysts expect BTC to enter price search during 2020 and early 2021 and hit a new-all-time high.
In 2017, Bitcoin reached a new record-high level 15 months after half of the 2016 block prize. BTC saw its latest uptrend in May 2020, so the prospect of a new peak in mid-2021 remains high based on 21 historical cycles.
In the long run, cryptocurrency investors and analysts say the prospect of Bitcoin as a sustainable store of value will force its valuation.
Tyler Reynolds, a former student at Google and Morgan Stanley, said a steady supply of bitcoin makes it attractive as a hedge against government spending. He Wrote:
“As it is currently taking shape, the next boom will be managed by BTC with a statement that OGOs have been saying since 2011: Bitcoin’s tight supply cap makes it a sustainable sow as the government uses its Fiat currency to support unrelated government spending. Devalues. “
Other notable investors, such as billionaire Wall Street hedge fund manager Paul Tudor Jones, called Bitcoin the ideal inflation game.
Bitcoin is especially attractive to organizations because it can act as a hedge in a diverse portfolio, but can also expose investors to the potential of Bitcoin’s asymmetrical risk-reward.
The relatively low market cap of Bitcoin compared to companies like Visa and safe haven assets like gold indicate that there is significant scope for further growth in the coming decade.
