Bitcoin is approaching the coveted $20,000 level, overtaking the big companies in terms of market capitalization
Bitcoin, the world’s largest cryptocurrency, has overtaken financial giant Mastercard in terms of market capitalization, according to data provided by companiesmarketcap.com.
The flagship cryptocurrency is currently valued at $372 billion after its price hit an intraday high of $19,333 on the Bitstamp exchange.
Prior to this, Bitcoin also topped big companies such as Meta Platforms, Eli Lilly, Chevron, with the bulls finally on a winning streak after months of disappointing price action.
The biggest cryptocurrency now focuses on Tesla, the leading electric car maker. Tesla shares were hit hard last year, with the company wiping out the majority of its market capitalization and CEO Elon Musk becoming the first person to lose $200 billion.
Bitcoin is down more than 72% from its all-time high. The company’s market cap exceeded $3 trillion in November 2021.
The market capitalization of a company is calculated by multiplying the number of outstanding shares of a company by its market price per share. In other words, it reflects the total value that investors attribute to a company based on current market conditions. Bitcoin market capitalization is calculated by taking the total number of coins (or tokens) multiplied by the current market price per unit.
This figure can change daily, however, as any change in investor sentiment or change in share price will have an immediate effect on the overall market capitalization of the company in question.
Currently, Apple is the most valuable company in the world, with its market capitalization exceeding $2.1 trillion.
