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BTC $42691.75 (-2.6%)
ETH $3005.19 (-1.8%)
USDT $1.00 (0.00%)
BCH $539.35 (-1.5%)
BSV $151.41 (7.01%)
LTC $158.04 (-1.2%)
BNB $366.03 (-1.2%)
ADA $2.13 (-0.1%)
DOGE $0.21 (-0.3%)

Bitcoin Outperforms PayPal, Netflix, Coca-Cola, and Disney

Bitcoin Outperforms PayPal, Netflix, Coca-Cola, and Disney

Bitcoin (BTC) price surges from $10,000 to over $15,000, with its market capitalization rising above $280 billion from $190 billion. With this market cap, BTC is now larger than most major companies in the United States.

BTC overtook many major companies such as PayPal ($237.5 billion) and Disney ($230.3 billion). Furthermore, it went on to surpass Netflix ($227.4 billion), Coca-Cola ($212.5 billion), and Bank of America ($210.3 billion).

List of U.S companies by market capitalization
List of U.S companies by market capitalization: Source: Dogs for the Dow

Notably, the BTC market cap is a little lower than the 17th largest company in the US, Home Depot. The company settles at a market cap of $306 billion.

Following then is Verizon, which falls behind it with a $242 billion market cap. Therefore, BTC  is equivalent to the 18th largest commercial company in the US.

Significantly, the world’s top valuable company, Apple has a $2 trillion market cap. For BTC to surge above Apple, it has to be priced at $120,000 per unit.

BTC ranks lower than financial companies like Mastercard ($312.7 billion), JPMorgan Chase ($313.8 billion), and Visa  ($422.3 billion). Thus, BTC’s price should reach $23,000 to surpass them and have a $426 billion market cap.

Often, investors compare BTC to gold as a store of value. Currently, the metal has a market cap of around $8 to 9 trillion. Therefore, Bitcoin’s price should be around $380,000 to surpass this.

With this, analysts anticipate a price rally until 2021. Moreover, analysts expect BTC to surpass its previous 2017 all-time high (ATH) of around $20,000. The June 2020 Edition of Bloomberg Crypto Outlook predicts BTC to hit an ATH of $20,000 before the end of the year.

A devoted news specialist who is passionate about the blockchain and crypto industry. She writes news and feature articles based on the latest developments in the market. She is always updated and on the go.