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Bitcoin at $ 15K is now bigger than PayPal, Coca-Cola, Netflix, Disney



At the beginning of September this year, Bitcoin (BTC) market cap hovered around $ 190 billion as the BTC price hovered around $ 10,000.

However, over the past two months, the price of Bitcoin has risen from over $ 15,000. With it, Bitcoin’s market cap has increased from $ 190 billion to around $ 280 billion. This now makes Bitcoin more valuable than most major US companies.

Bitcoin weekly price chart. Source: TradingView.com

Bitcoin is the equivalent of the 18th largest trading company in the US

If the price of Bitcoin is compared to that of publicly listed companies in the US, it would be the equivalent of the 1

8th largest company.

The 17th largest company in the US is Home Depot with a market cap of $ 306 billion. Verizon lags behind with a $ 242 billion valuation, leaving a big gap.

Since Bitcoin’s market cap is currently around $ 280 billion, it’s larger than all the companies in the US beyond the top 17.

Companies Bitcoin surpassed in recent months include several big names like Netflix, PayPal, BofA, Coca-Cola, Salesforce, and Disney.

Top US companies by market capitalization. Source: Dogs of the Dow

Bitcoin remains behind the three largest financial institutions in the US by valuation, Visa, Mastercard, and JPMorgan. For the top cryptocurrency to surpass all three, it will need to hit $ 23,000 or a market cap of $ 426 billion.

However, the price of BTC had to reach around $ 120k for Bitcoin to catch up with Apple, the most valuable company in the world with a market cap of $ 2 trillion.

Investors are aware of Bitcoin’s asymmetric risk-reward potential

Meanwhile, analysts predict BTC to rise throughout 2020, and in early 2021, expect BTC to start exploring prices and reach all-time highs.