Apart from surpassing the $1 trillion level, bitcoin’s market capitalization is now worth more than two of the largest financial service companies – Visa and MasterCard – combined. Moreover, BTC’s market cap is also higher than several of the largest US-based banks, including JPMorgan, Bank of America, and Citigroup.
The previously referred to as “magical internet money” has been on a mind-blowing bull run since early October when it dabbled with $10,000. In a matter of months, the asset’s price skyrocketed more than six-fold. Naturally, it also impacted the cryptocurrency’s market capitalization, which is well above $1 trillion.