The Bitcoin Milestone: What Happened?
On December 25, Bitcoin (BTC) decided to make a splash by breaking the $25,000 mark, peaking at $25,020 on Bitstamp. It didn’t just pop the virtual confetti, but also nudged ahead of Visa in market cap, making waves across the financial world. Where Visa holds a heavyweight title with a valuation of $460.06 billion, Bitcoin strutted in at over $462 billion as of December 26, officially crowning it as the thirteenth-largest ‘company’ on the planet.
Comparing Apples to Oranges: Bitcoin vs. Visa
Now, let’s not get too carried away waving banners for Bitcoin’s victory over Visa. Sure, the comparison is tasty, but it’s kind of like comparing apples to oranges. Bitcoin is a peer-to-peer software protocol, while Visa is a for-profit powerhouse. But here’s the juicy part: this surpassing act isn’t just numbers—it’s a shiny symbol of what Bitcoin represents in the world of digital finance.
Institutional Frenzy: Bitcoin Getting the Spotlight
Throughout 2020, Bitcoin has seen a surge in institutional interest. It’s like the shy kid in the corner of the cafeteria finally getting invited to the popular lunch table. Notable players such as Grayscale and the CME have led the charge, with Grayscale nearing $17 billion in assets under management, and CME Bitcoin futures consistently showing open interest above the $1 billion mark.
Visa’s Interest in Crypto: A Twist of Fate?
In a surprising twist, Visa isn’t just standing back throwing shade; they’re getting involved too. Following the lead of Square and PayPal, Visa has begun to embrace the crypto wave, allowing more accessibility for users. Cuy Sheffield, Visa’s director of cryptocurrency, noted how
+ There are no comments
Add yours