A price surge of 48% by Bitcoin since the start of 2023 has resulted in the market cap of the cryptocurrency pushing through the payment processing giant Visa for yet another time. With the price of the cryptocurrency standing at around $24,365, the market cap of the cryptocurrency at $470.16 billion is definitely above that of Visa, which has a market cap of $469.87 billion, according to information from CoinMarketCap.
Interestingly, this is the third time that the cryptocurrency has managed to flip the entire market cap of Visa, according to information provided by Companies Market Cap. The very first instance took place in the latter half of December 2020, when BTC managed to hit a sum of $25,000 for the first time. This price movement was achieved due to a late surge from the cryptocurrency which saw it go from $10,200 in September 2020 to a whopping $63,170 seven months later, in April 2021.
Bitcoin Has Surpassed Visa In Market Cap
Visa managed to retake this lead between the months of June and October 2022, after which Bitcoin managed to surpass the payment company briefly on the 1st of October before the company managed to take the lead back.
The lead then subsequently kept increasing with the collapse of FTX, the cryptocurrency, as it managed to shave off around $100 billion from the cryptocurrency in four days between the 6th and 10th of November, 2022. However, ever since then, the cryptocurrency has managed to recover, as well as stack an additional $65 billion- which is to be added on top of the market cap of November 6 to overtake the payment processing giant.
One should pay heed to the notion that due to the extremely minute difference in the market cap between Visa and Bitcoin, the two have been constantly flipping each other by the very hour.
