Largest cryptocurrency Bitcoin has crossed market capitalization over $470 Billion and outrun the payment giant company VISA for the third time.
The cryptocurrency market capitalization surged at $1.12 Trillion while writing. For the past few days, Crypto CAP has maintained stability over $1 trillion after one of the largest crypto exchanges FTX collapsed.
At press time, Bitcoin price trades at $24,800 along with 1.34% increase in market capitalization at $479 Billion. Thus, the payment giant NYSE:VISA market cap reported at $469 Billion along with $223.56 share value. As per coinmarketcap, Bitcoin’s market capitalization overtakes VISA third time.
According to a report from Companies Market Cap, in the past several days, BTC has “flipped” the overall capitalization of market giant VISA.
Reversing from a two year low of $15,476, Bitcoin price is outperforming and has recorded nearly 50% rally since the start of 2023. Furthermore, the NYSE:VISA observes 16.17% up so far since the start of this year.
It’s important to remember that Bitcoin and VISA are now trading against one other because of the minimal market capitalization difference between them.
Although both assets are trading near 2023 highs, NYSE:VISA is under selling pressure. In contrast, the price of bitcoin continues to trend upwards. If BTC overcomes its crucial $25K barrier, investors could soon be looking at $500 billion.
Also Read: Bitcoin Price Breaks Out to 8-Month High, Next Hurdle $25K
