Bitcoin’s market cap and the Bank of America

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Amazing news from Cointelegraph about Bitcoin’s market cap. Following the recent flurry of investment in BTC, the leading crypto’s market cap is almost on a par with that of the Bank of America.

Bitcoin’s current market cap sits just over $217 billion, while Yahoo Finance shows Bank of America’s market cap holding slightly over $226 billion. This comparison was made by The Next Web writer Satoshi Nakaboto, and provides some very interesting statistics about Bitcoin.

As Cointelegraph points out, “Bitcoin’s price has grown substantially in 2020, rising past several different wealth comparisons along the way.”

For example, just before Covid 19 derailed the world in March, the United States Central Bank pumped the economy with $168 billion in capital, and at this time Bitcoin’s market cap held near $145 billion.

In April, Jeff Bezos (Amazon) claimed he had a net worth of $140 billion, while Bitcoin’s market cap was near $130 billion. Since then, Bezos’ net worth has reached a staggering $193 billion. Bitcoin’s valuation, however, remains higher near $217 billion.

And, last week, Morgan Creek Digital co-founder Anthony Pompliano forecasted a future Bitcoin market cap of more than $80 or $90 trillion at some point before the end of time. Of course, we have no idea when that will be, although for some people it feels as if the end of the world couldn’t come soon enough, considering the chaos we have witnessed this year. However, Pompliano did say he was unsure if Bitcoin would reach such a market cap within his lifetime.

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