Market capitalization of the world’s most popular cryptocurrency, Bitcoin, on Sunday, January 3, 2021, reached $630 billion.
This was after the cryptocurrency surpassed the $34,000 mark reaching a new milestone.
Bitcoin’s new market capitalization surpasses that of any bank in the world, making it more valuable than some of the world’s famous banks like JP Morgan Chase and Bank of America.
Market capitalization of both JP Morgan Chase and Bank of America currently stand at $387.33 billion and $262.2 billion respectively.
Market capitalization of the world’s 10 most valuable banks
Amazingly, the combined market value of four leading global banks – Bank of China, SoftBank, Citigroup and Wells Fargo – still fall short of Bitcoin’s new market capitalization by $104 billion.
Bitcoin since the latter part of 2020 – and for the first 3 days of 2021 – has been on a rally and constantly reached record price highs amid strong purchases by institutional and accredited investors through the world’s biggest crypto hedge fund, Grayscale, and the CME Bitcoin futures market.
