Bitcoin beats the three major financial companies in the United States and puts it first in market valuation

Bitcoin has rapidly surpassed the development speed of many existing companies in the financial industry, and has repeatedly reflected the development path of Bitcoin as a valuable asset. Compared with other assets called “store of value”, Bitcoin also shows that it has a faster value growth than these assets, and the great power contained in its own value.

With the continuation of this model, some industry participants in the cryptocurrency field have taken time to point out that the value of Bitcoin as an asset is surprisingly different , this time compared with some of the world’s leading companies.

Analysis and comparison made by one of the members of the cryptocurrency ecological society Neuner, including JPMorgan Chase, Bank of America, Wells Fargo and Citibank, as the leading investment and financial services giants in the United States, all of which have existed for many years, at least Bitcoin was born years in advance.

Interestingly, in only twelve years since its creation, Bitcoin has become the most valuable asset against three of these companies, ranking first.

JPMorgan Chase is the only company that surpassed Bitcoin with $41 billion. Given that Bitcoin’s price maturation process is more consistent, it will still swap positions with Bitcoin in a few years. This leads to factors such as volatility and adoption rates, all of which surge every year.

Investment interest in Bitcoin has now changed, and investors in other markets have also turned to Bitcoin , because when the U.S. economy had to cope with another recession, emerging alternative assets became a channel to flourish this year . Investors from leading companies and global institutions have flooded into the market, so it may also raise the price of Bitcoin.

Circulating supply is the second indicator to measure the market value of Bitcoin. With the intensification of mining activities, the circulation will increase, which will give another boost to the market value of Bitcoin. However, it must be noted that the market value of Bitcoin is not the most accurate indicator of its value .

The irony is that all of the aforementioned companies have purchased cryptocurrencies, and JPMorgan Chase has begun accepting Bitcoin as a banking service. Earlier this year, news broke that Bank of America was also considering cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash as the equivalent of crypto-asset-related transactions.

Obviously, the use of Bitcoin is increasing, and banks have no choice but to formulate policies and models to force them to accept or hold cryptocurrencies . In the long run, traditional companies will continue to promote the expansion of Bitcoin’s dominance.

The original text comes from zycrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.