At the beginning of September of this year, the market capitalization of Bitcoin (BTC) was hovering at around $190 billion when the BTC price was hovering around $10,000. In the last two months, though, the price of Bitcoin has risen from over $15,000. With it, Bitcoin’s market value grew from $190 billion to about $280 billion. This makes Bitcoin more valuable than other big U.S. companies.
According to Cointelegraph.com, If Bitcoin’s valuation is compared to publicly-listed firms in the U.S., it would match the 18th biggest firm. Home Depot with a market cap of $306 billion is the 17th biggest company in the United States. Verizon falls behind it with a $242 billion valuation, leaving a large gap in between. Since Bitcoin’s market cap currently stands at around 280 billion dollar, it is larger than all of the companies in the U.S. outside of the top 17. Companies that Bitcoin surpassed in recent months include some big names such as Netflix, PayPal, BofA, Coca-Cola, Salesforce and Disney.As Cointelegram.com reported, Bitcoin is still behind the three largest financial institutions in the U.S. by valuation, namely Visa, Mastercard and JPMorgan. For the top cryptocurrency to surpass all three, it would need to hit $23,000, or a market cap of $426 billion. However, the price of BTC must reach somewhere around $120K for Bitcoin to catch up to Apple, the most valuable company in the world with a market cap of $2 trillion.
