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bitcoin market cap all time high sats compared
Advertisement

How Sats Stack Up: Comparing The Milestone $335B Bitcoin Market Cap

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin
0
Advertisement

The latest Bitcoin rally, combined with the increase in circulating BTC since 2017, has resulted in a new all-time high in the cryptocurrency’s total market capitalization. $200 billion was said to be an incredible feat, allowing the underlying network to stand up against some of the largest entities in the world. With the total market cap now at a record $335 billion, here’s how Bitcoin now stacks up compared to giants like banks, retail giants, tech firms, and much more.

Bitcoin Market Cap Grows To A Record $335 Billion Despite No New Price Peak

The leading cryptocurrency by market cap in just a few short months has grown from under $10,000 to over $18,000 at the local high but stopped short of setting a new record above $20,000. At the same time, the asset’s total market cap – a measure of money invested into the asset – has set a new record for the highest valuation ever.

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A company’s market cap in the traditional finance world is comprised of the total amount of shares multiplied by the price per share. Crypto works similarly with the market cap reflecting the price per coin multiplied by the current circulating supply.

Because new BTC is slowly trickled into the market through a process called mining, which sustains the Bitcoin network and ensures incentive to keep it in operation, the market cap can grow even when the price per coin hasn’t.

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 bitcoin market cap ath

How Bitcoin stacks up against some of the largest market cap publicly traded companies | Source: CRYPTOCAP-BTC  on TradingView.com

Since 2017, another 1 million and then some coins have made their way into the market, and potentially into the hands of long-term holders preparing for the bull run that’s potentially beginning now.

At a price of over $18,000 per BTC, the total Bitcoin network now has a valuation of a milestone of $335 billion, putting it on par with some of the largest companies in the world. It has even made the cryptocurrency more valuable than the total market cap of PayPal, the company whose recent nod of support caused the major breakout weeks ago.

Comparing The Crypto Milestone Against Major  Corporations And The World’s Biggest Brands

When it comes to the cryptocurrency market, no other assets even come close to Bitcoin’s dominance. A metric measuring that exact market cap ratio compared to the rest of the crypto market puts BTC as two-thirds of the total capitalization. That means all other cryptocurrencies combined, are only worth half of Bitcoin’s network.

A better barometer of success at this point could be comparing the cryptocurrency network and its market cap against publicly traded corporations.

At $335 billion exactly, the crypto network just edges out payments giant Mastercard and has bested Nvidia – a company that produces computer graphics cards that are popular for cryptocurrency enthusiasts to use as a makeshift BTC mining rig.

RELATED READING | BITCOIN BULL MARKET CORRECTIONS EXAMINED: WHAT TO EXPECT WHEN CRYPTO CORRECTS

Bitcoin now beats out Bank of America, PayPal, and other finance behemoths. The network is also now more valuable than everyday household names like Disney, Verizon, Comcast, and Home Depot.

bitcoin market cap compared

How Bitcoin stacks up against some of the largest market cap publicly traded companies | Source: LARGE CAP on TradingView.com

According to TradingView’s list of large-cap stocks, there are only 13 major corporations with a market cap more than Bitcoin’s, but considering the recent jump in a matter of weeks from $200 billion to $335 billion, the cryptocurrency will continue to rise this list.

The names above Bitcoin are the heaviest hitters in the world and include JP Morgan Chase, VISA, Tesla,  Walmart, Johnson & Johnson, Google, Facebook, Amazon, Berkshire Hathaway, and Microsoft.

Apple has held the title for the largest market cap for some time, reaching a $2 trillion valuation. But considering the prices per BTC predicted by some of the brightest investors across the globe, who had a hand in helping these other companies in an early stage, even Apple won’t stand a chance of preventing Bitcoin from cannibalizing its long-time championship position.

FEATURED IMAGE FROM DEPOSIT PHOTOS, CHARTS FROM TRADINGVIEW.COM
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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