Bitcoin worth more than Visa & Mastercard combined

Bitcoin worth more than Visa & Mastercard combined

According to data, bitcoin’s market cap is currently over $1 trillion. The digital coin went from zero to $1 trillion in network value 3.6 times faster than Microsoft.

Bitcoin also achieved a higher valuation than the world’s three biggest banks combined, when it hit an all-time high of $61,700 last week, as its market cap approached roughly $1.15 trillion. The combined market cap of JPMorgan, Bank of America and The Industrial and Commercial Bank of China (ICBC) is $1.08 trillion.

The on-chain analytics resource Ecoinometrics said, as cited by Cointelegraph, that as of March 13, bitcoin equalled 45% of the gold held in investment vehicles and 10% of the physical gold market as a whole. To eclipse gold entirely bitcoin would need to trade at $590,000, it added.

Bitcoin was trading at $54,865 per coin as of 13:26 GMT on Tuesday.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

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