Bitcoin worth more than Visa & Mastercard combined

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Bitcoin worth more than Visa & Mastercard combined

Cryptocurrency bitcoin is now more valuable than the world’s two biggest payment networks Visa and Mastercard, which have a combined market capitalization of $ 871 billion.

According to data, bitcoin’s market cap is currently over $ 1 trillion. The digital coin went from zero to $ 1 trillion in network value 3.6 times faster than Microsoft.

Bitcoin also achieved a higher valuation than the world’s three biggest banks combined, when it hit an all-time high of $ 61,700 last week, as its market cap approached roughly $ 1.15 trillion. The combined market cap of JPMorgan, Bank of America and The Industrial and Commercial Bank of China (ICBC) is $ 1.08 trillion.
Also on rt.com Visa considers adding cryptocurrencies to its payment network
The on-chain analytics resource Ecoinometrics said, as cited by Cointelegraph, that as of March 13, bitcoin equalled 45% of the gold held in investment vehicles and 10% of the physical gold market as a whole. To eclipse gold entirely bitcoin would need to trade at $ 590,000, it added.

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Bitcoin was trading at $ 54,865 per coin as of 13:26 GMT on Tuesday.

For more stories on economy & finance visit RT’s business section

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