Bitcoin News

Bitcoin Grows As Big As Bank Of America

Image by Eivind Pedersen from Pixabay

Bitcoin had already grown as good as Coca-Cola and Intex in the recent past and now it is turning out to be as big as the Bank of America.

It has been possible with all the capital invested in Bitcoin which, in total, is just short of Bank of America’s market valuation. Currently Bitcoin‘s market cap goes just above $217 billion while Yahoo Finance shows Bank of America’s market cap holding slightly over $226 billion.

Bitcoin has seen some dramatic changes in the year 2020. It has grown substantially this year, exceeding several different wealth comparisons along the way.

Before the Covid-19 outbreak in the United States, the Central Bank had raked the economy with $168 billion in capital. At the time, Bitcoin’s market cap held near $145 billion. 

In April, Amazon CEO Jeff Bezos’ touted a net worth of approximately $140 billion, with Bitcoin’s market cap near $130 billion. On paper, it seemed Bezos could have bought all the Bitcoin in circulation with a few billion to spare, although the mass purchase would likely prove impossible in real life due to factors such as rising prices and liquidity.

Since then, Bezos’ net worth has reached a staggering $193 billion. Bitcoin’s valuation, however, remains higher near $217 billion. 

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