. World News – CA – Bitcoin hits an all-time high of 25. $ 000, outperforming Visa’s market cap

Bitcoin tops Visa’s market cap at $ 460 billion as the price hits a new all-time high of $ 25. Reached $ 000.

The price of Bitcoin (BTC) was over 25 on December. 000 USD. 25, hit a new all-time high of 25 with Bitstamp. $ 020, surpassing Visa’s market cap in a historic milestone.

Visa, the financial services giant, is valued at $ 460. 06 billion according to Yahoo Finance. As of Dec. . 26, Bitcoin is comfortably hovering above $ 462 billion.

Bitcoin is essentially a peer-to-peer software protocol while Visa is a for-profit company. Some may argue that a head-to-head comparison between the two is inappropriate because they are fundamentally different.

But Bitcoin, beating Visa’s rating, is mostly symbolic and Bitcoin’s current market cap would theoretically make it the 13th largest company in the world.

Throughout 2020, institutional interest in Bitcoin has increased. At a point where institutional demand for Bitcoin continues to grow exponentially, Visa’s exceeding market cap could further boost institutions’ confidence in Bitcoin.

More and more institutes and accredited investors are involved in Bitcoin through Grayscale and the CME Bitcoin futures market. Grayscale’s assets under management are nearly $ 17 billion as the open interest of the CME bitcoin futures market is consistently above $ 1 billion.

Visa has also shown more excitement for crypto in the past few months after Square and PayPal endorsed Bitcoin.

For example, Wirex, the issuer of crypto Visa debit cards, became a major member of Visa in Europe. Cuy Sheffield, Senior Director and Head of Cryptocurrency at Visa, said:

Analysts at Intotheblock identified 23. 069 USD and 23. $ 377 as the top levels of support for BTC in the near future. They wrote:

As long as Bitcoin stays above the critical support areas, traders expect the cryptocurrency market to see a broader rally.

Michael van de Poppe, a full-time trader on the Amsterdam Stock Exchange, expects total market capitalization for cryptocurrencies to soon hit its all-time high of around $ 780 billion. He said:

Bitcoin, Market Cap, Visa