Bitcoin Is Now Bigger than Bank of America and NZ Dollar by Market Cap
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 67.6% | 59 | $101 363.57 | 5.75% | 5.84% | $2 006 042 665 897 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72% | 57 | $3 857.57 | 5.71% | 6.44% | $464 612 564 631 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $1.000540 | -0.02% | -0.03% | $135 764 333 539 |  |
|
| 4 |  XRP |
XRP predictions | 60% | 90 | $2.37 | -6.37% | 61.51% | $135 128 141 308 |  |
|
| 5 |  SOL |
Solana predictions | 70.8% | 62 | $232.13 | -1.56% | -4.26% | $110 343 784 176 |  |
|
| 6 |  BNB |
Binance Coin predictions | 84.8% | 25 | $721.64 | -3.72% | 10.51% | $103 922 816 425 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 64% | 77 | $0.428774 | 3.84% | 3.26% | $63 058 906 091 |  |
|
| 8 |  ADA |
Cardano predictions | 58% | 87 | $1.18 | -1.47% | 16.46% | $41 425 711 143 |  |
|
| 9 |  USDC |
USD Coin predictions | 95.2% | 1 | $0.999679 | -0.04% | -0.02% | $40 712 477 951 |  |
|
| 10 |  TRX |
TRON predictions | 74% | 48 | $0.331780 | -11.09% | 65.01% | $28 627 475 807 |  |
|
| 11 |  AVAX |
Avalanche predictions | 62.4% | 86 | $51.35 | -0.42% | 18.45% | $21 018 969 340 |  |
|
| 12 |  SHIB |
SHIBA INU predictions | 71.2% | 51 | $0.000031 | 4.36% | 21.59% | $18 484 583 266 |  |
|
| 13 |  TON |
Toncoin predictions | 64.4% | 78 | $6.80 | -0.76% | 6.38% | $17 327 281 996 |  |
|
| 14 |  DOT |
Polkadot predictions | 57.2% | 91 | $10.40 | 6.30% | 25.76% | $15 864 507 110 |  |
|
| 15 |  LINK |
Chainlink predictions | 57.6% | 88 | $23.82 | 0.40% | 31.04% | $14 933 658 983 |  |
