Although Bitcoin (BTC) has not broken its historical high in unit price, other records have been broken.
One is in market value. On Friday (19), BTC reached the $ 334 billion in market value, its biggest brand so far.
Tyler Winklevoss, co-founder of exchange Gemini, shared that BTC is worth more than the largest banks in the world at the price reached on Sunday (22).
Bitcoin beats banks by market value
Tyler made the publication on Sunday (22), when Bitcoin’s market value reached $ 350 billion.
In the real exchange rate, Bitcoin exceeded R $ 1.9 trillion in market value.
#Bitcoin is now larger than the world’s biggest banks pic.twitter.com/3w2HiOq45m
– Tyler Winklevoss (@tyler) November 23, 2020
“Bitcoin is now bigger than the largest banks in the world.”
However, the brand was temporary. At the time of writing, BTC returned to $ 339.5 billion, below JPMorgan Chase.
Anyway, the R $ 1.845 trillion in total market value is a great achievement.
If Bitcoin returns to its historic high of $ 20,000, it will easily outperform the world’s largest banks again.
Considering the 18,552,218 BTC in circulation, the total market value would be equivalent to US $ 371 billion.
In addition, it is important to note that 900 BTC are issued daily. In other words, US $ 18 million in market value with the quotation of the historic maximum.
In reais, the daily issue would almost exceed R $ 100 million.
Cryptocurrency market almost R $ 3 tri
Another important factor to be considered is the total value of the cryptocurrency market.
In all, the market adds up to R $ 2.965 trillion, with BTC representing 62.2% of the total.
Although BTC is down 1.1% at the time of writing, other cryptocurrencies are boosting market value.
This is the case of XRP, which increased 92% in one week. In the last 24 hours alone, the Ripple network’s native token has appreciated 20%.
Nor is Ethereum, the largest altcoin in market value, behind. The appreciation was 28.94% in one week.
Finally, among the ten largest, it is also important to pay attention to Cardano.
In the last 24 hours, altcoin has appreciated 10%, accumulating 45% of gains in 7 days.
Analysts have already argued that if BTC lateralizes, altcoins will have a good chance of showing even greater gains.
Thus, even if Bitcoin stops growing in market value, other cryptocurrencies were satisfied with the lack of pressure from the crypto.
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