All the speculative capital invested in Bitcoin (BTC) at the instant totals just a couple of billion dollars shy of Bank of America's market valuation. Bitcoin's current market cap sits just over $217 billion, while Yahoo Finance shows Bank of America's market cap holding slightly over $226 billion — a comparison introduced during a recent article from subsequent Web.Â
Bitcoin's market cap climbing as compared Although it's endured its justifiable share of dramatic price fluctuations, Bitcoin's price has grown substantially in 2020, rising past several different wealth comparisons along the way. Back in March, just before COVID-19 measures turned the planet on its head, the us financial institution pumped the economy with $168 billion in capital. At the time, Bitcoin's market cap held near $145 billion. In April, Amazon CEO Jeff Bezos' touted a net worth of roughly $140 billion, with Bitcoin's market cap near $130 billion. On paper, it seemed Bezos could have bought all the Bitcoin in circulation with a couple of billion to spare, although the mass purchase would likely prove impossible in real world thanks to factors like inflation and liquidity. Since then, Bezos' net worth has reached a staggering $193 billion. Bitcoin's valuation, however, remains higher near $217 billion.Â
The asset could reach astronomical heights In an Aug. 4 crossover podcast episode with Peter McCormack, host of the What Bitcoin Did podcast, Morgan Creek Digital co-founder Anthony Pompliano recently forecasted a future Bitcoin market cap of quite $80 or $90 trillion at some point before the top of your time . Pompliano, however, said he was unsure if Bitcoin would reach such a market cap within his lifetime. A long-time Bitcoin advocate, Pompliano has stated his position repeatedly on Bitcoin as an asset uncorrelated with mainstream markets.
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