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.
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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.
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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