Bitcoin (BTC) has achieved success other than seeing $ 60,000 last week. The market cap of cryptocurrencies surpassed the total value of the world’s three largest banks.
The value of the largest cryptocurrency has surpassed the total value of the world’s three most valuable global banking giants in terms of market capitalization, according to the data.
Bitcoin overtakes global banks
When Bitcoin reached its all-time high of $ 61,700, its market cap was hovering around $ 1.15 trillion. The combined value of JPMorgan, the Industrial and Commercial Bank of China and Bank of America is $ 1.08 trillion.
Bitcoin’s achievements didn’t just end there. The market value of the world’s largest payment networks Visa and Mastercard, totaling $ 871 billion, also lagged far behind BTC.
Bitcoin, which experienced a slight correction after breaking the record, still remains a trillion-dollar asset with a value of $ 1.03 trillion.
Examining market value data On-chain analysis resource Ecoinometrics announced that as of March 13, Bitcoin corresponded to 45 percent of the gold held in investment instruments and 10 percent of the total physical gold.
BTC / USD needs to reach $ 590,000 to completely replace gold.