Bitcoin market cap surpasses Visa, Bull run continues. Bitcoin is now ahead of Visa in terms of Market Cap. At the time of writing Bitcoin is trading at $27,309.54 on Coinmarketcap. The rise is nearly 8-10% in the last few days and over 300% rise in 1 year. Multiple factors are making the coin grow exponentially.
Bitcoin Big Players:
There is a rise in the Crypto space and the increase is steady since the great fall in 2017. More good news flowing in for the Crypto industry than the bad news which loomed a couple of years back. Due to the 2020 Pandemic fueling the need for an asset with tremendous returns, Crypto has the answers. The US dollar and Fiat currency going down badly, banks and other financial institutions will go back again to the Common people to fill in the losses. Companies like PayPal, Big US banks, and even retail investors are grabbing the available coins.
You can currently see the Largest companies by Market Cap below, Source – https://companiesmarketcap.com/
Bitcoin is now sitting close to $500 Billion & market Cap.
Bitcoin is considered to be a store value rather than a means of daily usage. Each currency has its significance. The Indian Govt uplifted the RBI circular which restricted the Indian banks to deal with Crypto exchanges in March 2020. Remember, India is no market considering India is just getting started. Not only Bitcoin, but other currencies like Ether, Litecoin, XRP, and other major Top 100 Cryptocurrencies are on the rise.
The Bad News:
SEC (U.S. Securities and Exchange Commission) and Ripple Inc had a tussle and the company is in some serious trouble already. XRP price dropped almost 40-50% since the news broke out. As per SEC Ripple Inc had raised billions from retail investors without regulatory checks while issuing XRP. The issue here is taking XRP as a currency or a Security. Many Crypto Exchanges have halted the XRP trading as well. Ripple CEO said that more than 90-95% of XRP trading happens outside the US which is good. Although, he wants to keep working in the US and grow.
Visa and Bitcoin are already in the works. I request readers and investors to be cautious as BTC (Bitcoin) is already trading at ATH (All-time High) entering the market can be risky. There will be several big names speculating the price still, you need to be your advisor.