11 Jan 2021
Bitcoin is now the largest financial services in the world
With bitcoin’s recent price rally, the market cap has now surpassed all other financial services worldwide.
Many jumped on the bitcoin train in 2020 because of its store of value properties and lucrative “digital gold” narrative.
However, we must not forget that bitcoin is also a global financial network, enabling cheap and fast transactions worldwide, without the use of any third-party.Bitcoin’s market cap is now just below $600 billion after the recent sell-off.Bitcoin started 2020 with a market cap of ~$130 billion, far behind the leading financial services companies worldwide.Now, bitcoin is worth more than any global financial services company and almost $100 billion ahead of the second place, Visa.