Since the beginning of this year, the price of bitcoin has soared 48%, making the market value of bitcoin once again surpass that of payment settlement boss Visa.
According to CoinMarketCap, the current price of Bitcoin is $24365, and its market capitalization is $470.16 billion, slightly higher than Visa, which has a market capitalization of $469.87 billion.
According to Companies Market Cap, this is also the third time that BTC has "reversed" the market capitalization of Visa.
The first time will be in mid-to-late December 2020, when Bitcoin touched $25000 for the first time. This was achieved during the period when the price of Bitcoin soared, and seven months later, Bitcoin rebounded from $10200 in September 2020 to $63170 in April 2021.
Visa took the lead again from June to October 2022, then Bitcoin briefly overtook Visa on Oct. 1, and the three-way payment platform regained its lead again.
The collapse of the cryptocurrency exchange FTX shrank by more than $100 billion from BTC in four days from November 6 to 10, 2022, expanding this first-mover advantage.
But since then, BTC has fully recovered $65 billion and has a further $65 billion on Nov. 6, with a market capitalization of $408 billion, surpassing the payment giant.
It's worth noting that Bitcoin and Visa are now flipping each other by the hour because of their subtle differences in market capitalization.
For BTC's impressive opening in 2023, it "flipped" Visa for the third time after 14 days of price increases from January 4 to 17.
BTC is also at the top of the list for Internet MasterCard, which currently has a market capitalization of $345.24 billion, according to Google search Finance.
But Bitcoin is still down 63 per cent from its all-time high of $69044 set on Nov. 10, 2021.
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Tue, 18 Apr 2023