The value of Bitcoin has been making headlines lately, with prices increasing tremendously over the past few weeks. First, the price of the cryptocurrency smashed the $10,000 level, hitting a record-high of $15,000 a few days later. As of now, the price stands at more than $18,000, with the upward trend expected to continue in the coming days.
With more and more people trying to get a piece of the Bitcoin pie, the digital currency’s market cap has swelled to a new all-time high, surpassing that of Visa. As of this writing, Visa’s market cap of $252.74 billion has been eclipsed by Bitcoin, whose market cap now sits at $305 billion. That is a 73% increase since this same time just a week ago. Not bad for something that experts are quick to deride as a ‘bubble’ and a ‘fraud’, eh?
Pension Partners’ Director of Research Charlie Bilello made the announcement on Twitter today:
Bitcoin’s market cap just passed Visa’s.
Yes, that Visa:Largest electronic payment processor in the world$8.9 trillion in 141 billion transactions per yearAcross 160 currencies and over 200 countries$BTC.X $V pic.twitter.com/BlRvSZwzDE
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