Bitcoin’s Market Cap Beats Visa

Key highlights:

  •         Bitcoin now has a higher market cap than global payments giant Visa.
  •         Bitcoin, which is 64% below the ATH level, also aims to surpass companies such as Nvidia and Tesla.
  •         Bitcoin price is $25,025, market cap is $483 billion.

As of February 21, 2023, Bitcoin has a market cap of $483 billion, while Visa has a market cap of $469.9 billion. This marks the third time in history that Bitcoin has become a more valuable asset than Visa. Although Bitcoin managed to outperform Visa in terms of market cap in December 2020 and October 2022 before, Visa took its seat back.

The asset, which appreciated by approximately 50.5% with the new year, was able to overtake many market giant companies, thanks to this. BTC, whose market cap fell to $302 billion following FTX’s bankruptcy on November 10, has since gained more than $181 billion. Bitcoin is also ahead of global payment processing giant Mastercard, which has a market cap of $345 billion.

Bitcoin Has a Way To Go

Bitcoin price is about 60% above the bottom price seen in November 2022, but 64% below the ATH price. This shows that Bitcoin, which has surpassed financial giants such as Visa, JPMorgan, Chase and Mastercard, can climb even higher. According to Companies Market Cap data, the next companies are Nvidia, Tesla and Berkshire Hathaway, respectively. On the other hand, Visa (V) stock price has also increased by 7% since the beginning of the year.

The fact that Bitcoin is competing with these big firms is a sign that it is seen not only as an asset used for speculative trading but also as the pioneer of the new financial era. In addition, Ethereum, which has a market value of $208.4 billion with a price of $1,703, is ahead of giant companies such as McDonald’s, Toyota, Nike and Walt Disney.