Bitcoin Is Ahead Of Bank Of America And New Zealand Dollar At Present By Market Capitalization

Sep 7, 2020 Crypto

The present market-capitalization of Bitcoin (BTC) is just a little higher than a billion USD, having raised 3.2% in the past 2 days. For the time being, the market-capitalization of the Bank of America has shown an unfortunate downfall, around more than 2% that reached down to 224.4 billion USD.

This optimistic behavior coming from BTC shows one thing and that is that the analytics website places Bitcoin in the 25th rank position of the most treasured asset by market cap, just after Paypal that holds the market-capitalization of 230 billion USD.

Bitcoin is Running Ahead

There is a site called FiatMarketCap and it operates to track the rise of Bitcoin against some leading fiat currencies. It has made the statement that the market-capitalization of Bitcoin now has put it ahead of the same as the NZ Dollar. To be exact, at present BTC is ahead of the estimate of the site for the complete count of NZ Dollar in motion at 346.4 billion, which is approximately equal to 227 billion USD. As a consequence, this has made Bitcoin the 34th most precious among all the fiat currencies in the world.

In 2020, the value of BTC has shown a steep rise. The raise was for the Federal Reserve pushing away numerous controversial approaches. It happened for the reduction of the economic effect of the Covid-19 pandemic, giving rise to highlighting figures in finance to take crypto under consideration for the first time.

Popular Billionaires on Crypto

There are famous billionaires who expressed their views on cryptocurrencies. For instance, Warren Buffett has made a statement that cryptocurrencies do not hold any significance basically.

On the other hand, billionaires like Jason Williams made a prediction that Warren Buffett’s company called Berkshire Hathaway has the chance of making a huge investment in cryptocurrencies, BTC to be specific. The “hedge fund Tudor” Investment Corporation’s founder Paul Tudor is also pretty optimistic about BTC as in May, uncovering that the crypto-asset was a part of his portfolio.

There is another probable face in the crypto realm and he is none other than Dave Portnoy, founder, “Barstool Sports”. He recently got connected with the Gemini exchange’s founders, Cameron and Tyler Winklevoss. He took the help of the twin-brothers buying 200000 USD in BTC and 50000 USD in LINK (Chainlink). These are some of his very first cryptocurrency purchases.