Bitcoin
BTC$42 435.30

-3.82%

Ethereum
ETH$2 898.43

-7.49%

Cardano
ADA$2.23

-0.57%

Tether
USDT$1.001440

0.09%

Binance Coin
BNB$352.49

-7.00%

XRP
XRP$0.932568

-6.42%

Bitcoin Is Now Bigger than Bank of America and NZ Dollar by Market Cap


18 Aug 2020   #Bitcoin

As Bitcoin reaches a new yearly high of $12,470, its market cap is now greater than Bank of America's and New Zealand’s fiat currency. As Bitcoin gets more support from first-time investors, its market capitalization has risen past Bank of America's market valuation, and put it within striking distance of PayPal’s.

According to AssetDash data at the time of writing, Bitcoin's current market cap sits just over $226 billion, having risen 3.2% in the last 24 hours. However, Bank of America's market cap has fallen more than 2% today to $224.4 billion. This bullish behavior from Bitcoin (BTC) and slight drop in BoA means the analytics site ranks BTC as the 25th most valuable asset by market capitalization, just behind PayPal at $230 billion.

However, Bank of America was not the only fiat-based institution to fall behind the crypto asset today as it reached a yearly high of $12,470. FiatMarketCap, a site that tracks BTC's rise against major fiat currencies, states that Bitcoin’s market cap now puts it ahead of that of the New Zealand dollar (NZD).

Bitcoin is now ahead of the site’s estimate for the total number of NZD in circulation at 346.4 billion, or roughly $227 billion. This would make Bitcoin the 34th most valuable of all fiat currencies.

Traditional investors choosing crypto


Bitcoin's price has grown substantially in 2020 as the Federal Reserve has pushed many controversial measures to lessen the economic impact of the pandemic, prompting many prominent figures in finance to consider crypto for the first time.

While billionaire Warren Buffett has made his feelings on cryptocurrencies well known — saying they “basically have no value” — others like Morgan Creek Digital’s Jason Williams have predicted that Buffett’s multinational conglomerate holding company, Berkshire Hathaway, could invest in Bitcoin soon. Williams said that “young managers and analysts” at the firm would make the decision to buy BTC, even if Buffett were unaware of their actions.

Buffett isn’t the only billionaire to potentially consider crypto as a way to hedge his bets in this economy. Paul Tudor Jones, the founder of hedge fund Tudor Investment Corporation, is also still bullish on Bitcoin since revealing the crypto asset was part of his portfolio in May.  

Another possible new face to the crypto world is Barstool Sports founder, Dave Portnoy, who recently spoke with Gemini exchange founders, Tyler and Cameron Winklevoss. With the assistance of the twin brothers, Portnoy purchased $200,000 in Bitcoin and $50,000 in Chainlink (LINK), some of his first crypto purchases.

Source


Related

Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping
Buyers have returned to cryptocurrencies
FBS Launches New Crypto Account with 100+ New Instruments
Bitcoin in good shape as long as BTC price stays above $40K
Is it a Buy-the-dip moment for crypto?
Bitcoin bounces to $43K ahead of fresh crypto comments from SEC Chair Gensler
Bitcoin loses $44K support as stocks, Evergrande nerves hit BTC price
Cryptocurrency market rebound dries up, alarmingly recalling 2018
Bitcoin sees quite healthy consolidation on $200M BTC options expiry day

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 27 $42 435.30 -3.82% -10.67% $798 843 453 346 $41 875 933 869
2 Ethereum (ETH) ETH Ethereum predictions 74.8% 50 $2 898.43 -7.49% -16.63% $341 018 107 532 $25 119 846 328
3 Cardano (ADA) ADA Cardano predictions 64% 78 $2.23 -0.57% -6.34% $71 411 624 055 $5 734 484 720
4 Tether (USDT) USDT Tether predictions 96% 1 $1.001440 0.09% 0.11% $68 691 485 942 $92 416 325 974
5 Binance Coin (BNB) BNB Binance Coin predictions 60.8% 78 $352.49 -7.00% -14.45% $59 266 206 180 $2 064 251 017
6 XRP (XRP) XRP XRP predictions 75.2% 48 $0.932568 -6.42% -12.98% $43 567 385 538 $4 641 985 825
7 Solana (SOL) SOL Solana predictions 63.2% 83 $139.49 -5.82% -1.32% $41 467 489 552 $4 041 527 553
8 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000761 0.07% 0.05% $30 432 510 822 $3 991 490 878
9 Polkadot (DOT) DOT Polkadot predictions 62.8% 74 $30.77 -2.94% -9.08% $30 391 187 124 $3 785 910 016
10 Dogecoin (DOGE) DOGE Dogecoin predictions 65.2% 78 $0.208918 -6.33% -14.44% $27 455 953 723 $2 219 973 271
11 Avalanche (AVAX) AVAX Avalanche predictions 63.2% 82 $73.45 -4.25% 12.05% $16 179 548 858 $2 391 193 014
12 Terra (LUNA) LUNA Terra predictions 68.8% 61 $34.85 -2.03% -0.58% $13 942 018 660 $2 307 928 114
13 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $1.000668 0.05% 0.05% $13 477 216 401 $6 991 450 944
14 UniSwap (UNI) UNI UniSwap predictions 65.2% 74 $19.64 -8.12% -20.80% $12 010 497 802 $461 226 982
15 Chainlink (LINK) LINK Chainlink predictions 68% 64 $22.80 -7.36% -19.93% $10 361 191 269 $1 641 630 892

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.