BTC has leveraged recent gains to surpass payment processing giant Visa for the third time within three years.
The pioneer cryptocurrency has scooped about 48% profit since the beginning of 2023. At the time of writing, Bitcoin’s price sits at $24,889 with a market capitalization of almost $480 billion, according to Coinmarketcap.
Bitcoin And Visa’s Market Cap Tussle
Another data from the same source compares the financial metrics of Bitcoin and other companies and world-class assets. The statistics reveal that Bitcoin ranks 18th, followed by Visa Inc., whose market cap is a few thousand dollars shy of $470 billion.
According to Companies Market Cap, this is the third time Bitcoin will surpass the payment giant.
Interestingly, the first occurrence was in December 2020, when BTC made a $25,000 all-time high. The rally saw the crypto mammoth asset rise from the $10,200 mark in September of the same year.
Visa regained its lead between June and October of the following year, after which Bitcoin surpassed the payment processor momentarily on October 1 when Visa climbed above BTC again.
The notorious FTX collapse widened this gap by scraping over $100 billion from the market between November 6 and 10. However, the digital asset has recovered over $165 billion since then.
Will Bitcoin continue to conquer new territories in the short term amidst the growing positive sentiment? Let us know your thoughts in the comments section below.
