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Notably, the price spike has taken big banks by surprise. Bitcoin’s total market cap, as well as that of the entire crypto market, has seen a significant increase as a result of the price spike. At the time of this writing, the crypto market is worth over $1.45 trillion. When BTC hit $48k, the market cap had reached $1.5 trillion.
Bitcoin Is Bigger Than 3 Banks Combined
By all accounts, big banks are already getting jittery over Bitcoin’s increasingly popular progression. The top coin has been resilient despite numerous attempts by banks and governments alike to block its journey to mainstream adoption.
Those efforts seem to have gone to waste as BTC cruises past the market value of some of the biggest banks in the world. As of publication, Bitcoin’s total market is approaching $900 billion, a figure higher than the combined market caps of Wells Fargo, JPMorgan Chase, and the Bank of America.
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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.
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