Bitcoin is the first cryptocurrency that paved the path for the decentralized cryptocurrency realm. Bitcoin is frequently compared to gold because both are precious and limited in supply. BTC, on the other hand, is significantly more transferable and can be quickly moved between users all over the world.
As the adoption of cryptocurrencies has increased every day over the years, so have the demand and price. From a low of $65.53 on July 5, 2013, BTC has skyrocketed to an all-time high of $68,789 on November 10, 2021, according to CoinMarketCap data.
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With the cryptocurrency market slowly slipping away from the bearish movement in 2022, the market cap as well as the price of cryptocurrencies have risen. According to the latest data, Bitcoin has surpassed Visa in terms of market cap.
Bitcoin dethrones Visa in market cap
CoinMarketCap data reveals that the market cap of BTC currently stands at $473,230,715,948 with a 0.5% drop in the last 24 hours. However, the market cap of Visa now stands at 460.13 billion. Visa’s market cap is $13 billion down as compared to that of BTC at press time.
Visa is a financial corporation that helps in the transfer of funds using credit and debit cards. It is also considered one of the most valuable companies in the world. This is indeed a notable milestone for Bitcoin, which is an evident sign of increasing adoption and belief in cryptocurrencies.