- Bitcoin is now the 20th largest asset by market cap.
- That’s according to AssetDash, a site that tracks major global assets.
- Lots of the other companies in the list have been greatly affected by Bitcoin.
With a market cap of nearly $300 billion, Bitcoin is now the 20th most valuable asset by market cap, according to AssetDash, a site that tracks those sorts of things.
Bitcoin pipped home improvement retailer Home Depot to take the 20th position, and already beat out Verizon and PayPal (perhaps that’s why PayPal’s starting offering Bitcoin). Still yet to conquer are payments companies Mastercard (18th) and Visa (12th).
Bitcoin hit 20th position after its price boomed to $16,117, a more than $5,000 increase since the start of October, when its price was about $10,500 and its market capitalization (the sum of a coin’s price and total circulation) was about $200 billion.
Bitcoin’s already affected almost all of the companies ahead of it. NVIDIA (14th) is battling a lawsuit that alleges that the graphics card firm didn’t explain how much it relied on Bitcoin mining hardware.
JPMorgan (17th) is building its own crypto, JPM Coin, and Facebook (5th) tried its darndest to launch its own global world currency project, Libra. Walmart (10th) traces its lettuce on the supply chain blockchain system built by IBM (86th).
Elon Musk, CEO of Tesla (11th) tweets about Bitcoin every so often, and recently caused the price of his favorite Bitcoin spinoff Dogecoin to spiral upward after he recognised its fetid existence. Even Warren Buffett’s Berkshire Hathaway owns Bitcoin—well, he hates the stuff, but he was given one by TRON CEO Justin Sun.
Ethereum trails behind in 201st position. Tether, the US dollar stablecoin company, is way behind at 544th. XRP is 733rd.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.