Bitcoin has grown in recent times and it has gained further more prominence. The growth has also helped it come equal to the valuation of some large firms.
Bitcoin dominates the market and is the largest cryptocurrency by market cap. The market cap is usually evaluated by adding up the value of all outstanding shares, tokens, or coins multiplied by the current market price.
By adding these values, Bitcoin is currently at $216 billion and continues to grow larger. It is expected that Bitcoin might reach a total which is not seen since 2018.
Currently the Bitcoin cap is on par with Netflix, a household name, that stand at the head of their respective industries.
In December 2017, the marketcap for Bitcoin was $300 billion. It has been estimated that if prices continue to grow at the same rate it might touch JP Morgan Chase and Mastercard, at market caps of $302 billion and $328 billion, respectively.
However, as of now it seems like a distinct dream. Most companies with market caps in the billions have spent decades building up their business, investing millions to build up proprietary infrastructure and business practices.
All the more impressive, then, that Bitcoin and Ethereum have risen to compete in overall valuation with some of the most well-known businesses in the US and across the world in a fraction of the time with completely open-source code and organically grown communities.