The total market capitalization of the flagship cryptocurrency Bitcoin topped that of the payments giant Mastercard, gaining BTC on the 16the place in a list of the world’s largest companies by market capitalization.
According to monitoring resource Asset Dash, as first reported by Decrypt, Mastercard’s market cap is $ 332.8 billion, while bitcoin’s market cap is $ 337.7 billion. While the price of the cryptocurrency – and market cap – has risen steadily over the past 30 days, MasterCard stock is at $ 333.8, down from the all-time high of $ 366 recorded in August. of this year.
It should be noted that Bitcoin’s market cap represents the combined value of all outstanding BTCs, while the market cap of companies like MasterCard represents the combined value of its shares. As CryptoGlobe reported, Bitcoin’s market cap hit a new high this month, with the price of BTC rising from around $ 10,500 in October to over $ 18,000 at the time of publication.
Over the past 30 days, the price of BTC has increased by over 50%.
The price of bitcoin is believed to have risen thanks to growing corporate adoption, as at least 15 publicly traded companies have invested in BTC in recent months. MicroStrategy, for example, invested $ 425 million in cryptocurrency, while Square bought $ 50 million earlier this year.
Some of the other listed companies exposed to bitcoin include BTC mining companies such as Hut 8 Mining, Argo Blockchain, and Riot Blockchain. In addition to this, PayPal has launched a new service that allows users to buy, sell, and hold cryptocurrencies on its platform. The service is currently only available to users in the United States and supports BTC, BCH, LTC, and ETH.
Currently the largest company by market capitalization is Apple at $ 2 trillion. Bitcoin is often compared to gold, however, as investors buy BTC as a store of value. The market cap of gold is estimated to be around $ 8 trillion.
Featured image via Pixabay.