Bitcoin Now Worth More Than the Largest 4 US Banks Combined
CoinEdition
Published Apr 11, 2021 08:56AM ET
Bitcoin Now Worth More Than the Largest 4 US Banks Combined
- Bitcoin is now worth more than America’s top four banks combined.
- The banks in question are JP Morgan, Wells Fargo (NYSE:WFC), Citibank, and Bank of America (NYSE:BAC).
- Bitcoin currently has the 8th highest market capitalization.
Bitcoin now worth more than the largest 4 banks in the United States combined. Namely, the top four banks referred to are JP Morgan, Wells Fargo, Citibank, and the Bank of America.
#Bitcoin is now worth more than the four largest banks in the United States, combined. pic.twitter.com/zfHTBLUPVU
— Documenting Bitcoin (@DocumentingBTC) April 10, 2021
Documenting Bitcoin recently posted the claim on Twitter. Based on Infinite Market Cap, data Bitcoin has a market cap of $1.12 trillion, which makes it the 8th ranking market cap.
In comparison, JP Morgan has a market cap of $473.85 billion. While Wells Fargo, Citigroup (NYSE:C), and Bank of America are worth $167.43 billion, $151.11 billion, and $345 billion respectively.
Further, the top crypto continues to defy expectations as it briefly surged over $60,000 yesterday, March 10, 2021. However, BTC price is currently trading at $59,603.34 after dipping 2% in the last 24 hours.
Added to that, JP Morgan has long taken an interest in Bitcoin and offered several predictions regarding the crypto. Notably, the bank recently amended its 2021 prediction to $130,000 by year-end.
Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) have also started offering their investors exposure to crypto. In fact, Goldman Sachs is rumored to be serving as Coinbase’s underwriter when the top crypto exchange is expected to go public.
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