Bitcoin price is approaching the much-coveted $20,000 level, surpassing major companies by market cap
By market capitalization, Bitcoin price, the biggest cryptocurrency in the world, has surpassed banking behemoth Mastercard. The market cap of the leading cryptocurrency is at $372 billion after its price on the Bitstamp exchange hit an intraday high of $19,306.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin Price Surges Past Mastercard as BTC Price Approaches $20,000
Before that, Bitcoin also outperformed significant corporations like Meta Platforms, Eli Lilly, and Chevron, with bulls suddenly on a roll after months of disappointing price movement.
The top manufacturer of e-cars, Tesla, is currently the focus of BTC. Tesla’s market valuation was largely erased last year, and CEO Elon Musk became the first individual ever to lose $200 billion due to the severe decline in the company’s stock price.
Since its record high, Bitcoin has fallen by more than 72%. In November 2021, the company’s market capitalization exceeded a staggering $3 trillion. The market capitalization of a corporation is determined by dividing the total number of outstanding shares by the share price.
In other words, it reflects the overall worth that investors assign to a company in light of the market environment at the time. The total number of coins multiplied by the current market price per coin yields the market capitalization of Bitcoin.
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