{"id":787,"date":"2023-01-08T08:56:51","date_gmt":"2023-01-08T03:26:51","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=787"},"modified":"2023-01-08T08:56:52","modified_gmt":"2023-01-08T03:26:52","slug":"bitcoins-mind-blowing-market-cap-higher-than-which-bank","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/bitcoins-mind-blowing-market-cap-higher-than-which-bank\/","title":{"rendered":"Bitcoin\u2019s mind blowing Market Cap higher than Which Bank?"},"content":{"rendered":"\n
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credit – Pixabay.com<\/figcaption><\/figure>\n\n\n\n

In mid-November 2022, Bitcoin\u2019s market cap dominance dropped down to\u00a035.27%. Post a gradual recovery, the number now stands at ~40%. The market cap dominance reveals the asset\u2019s percentage share in the total crypto circulating market cap. Thus, the higher the percentage, the more dominant and vice versa.<\/p>\n\n\n\n

Leaving aside the crypto industry, Bitcoin\u2019s market cap exceeds a host of prominent names from traditional finance. Multinational financial service companies and investment banks like Bank of America, Insurance Corporation of British Columbia [ICBC], and Wells Fargo are currently valued at $273 billion, $218.4 billion, and $161.6 billion respectively.<\/p>\n\n\n\n

China Construction Bank, one of the \u201cbig four\u201d banks in China, is worth $160.1 billion, while Charles Schwab\u2019s valuation currently stands at $155.03 billion.<\/p>\n\n\n\n

Trading at a price of $16.7k at press time, the cumulative worth of Bitcoin stood at $324.6 billion. Only JPMorgan Chase had a higher valuation than Bitcoin. It stood at around $396.6 billion on Friday.<\/p>\n\n\n\n

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credit – \u00a0twitter.com<\/figcaption><\/figure>\n\n\n\n

Opining on the same, Gabor Gurbacs, VanEck\u2019s Digital Assets Strategy Director, tweeted,<\/p>\n\n\n\n

\u201cBitcoin still exceeds almost all of the world\u2019s top banks by market cap. The future is bright.\u201d<\/strong><\/p>\n\n\n\n

Leaving aside banks, data from\u00a0Infinite Market Cap\u00a0revealed that Bitcoin\u2019s aggregate valuation is also higher than the likes of Samsung, Pfizer, Alibaba, Coca-Cola, Pepsico, Reliance Industries, Shell, L\u2019Or\u00e9al, Nike, and Toyota.<\/p>\n\n\n\n

Bitcoin Adoption Continues To Rise<\/h3>\n\n\n\n

Despite the stagnated price of the asset, market participants have been adding BTC to their wallets. Data from Glassnode revealed that the number of addresses holding more than 1 BTC reached an all-time high of 979,707 on Friday.<\/p>\n\n\n\n

As illustrated, the tail of the curve became steeper lately, indicating that investors have been taking advantage of the current discounted price of the asset.<\/p>\n\n\n\n

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credit –\u00a0Glassnnode.com<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

NEWS BY – CETOEX NEWS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In mid-November 2022, Bitcoin\u2019s market cap dominance dropped down to\u00a035.27%. Post a gradual recovery, the number now stands at ~40%. The market cap dominance reveals the asset\u2019s percentage share in… <\/p>\n","protected":false},"author":1,"featured_media":788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[8],"tags":[90,291,47,41,44,26],"class_list":["post-787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-market-cap","tag-btc","tag-cetoex","tag-cetoex-news","tag-cryptocurrency"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/01\/bitcoin-g5c5103375_1280-800x561-1.jpg","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/787"}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=787"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/787\/revisions"}],"predecessor-version":[{"id":789,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/787\/revisions\/789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/788"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}