The crypto space has been on fire lately as coins such as Bitcoin, Ethereum and Dogecoin break out to all time highs. As adoption has accelerated, so too has the market growth for crypto now reaching a $2.2 trillion market cap.
Bitcoin is leading the charge commanding a 52% market dominance at over $1.1 trillion while Ethereum is the second largest crypto at nearly $300 billion market cap and only 13% market dominance. So how well does Bitcoin stack up against some of the biggest assets in the world right now?
Currently the crown still belongs to Gold and it's not even close. Sitting around $11 trillion at time of writing, Gold is nearly 10 times bigger than Bitcoin and over 4 times bigger than the second biggest asset which is Apple. To be fair though Gold has had thousands of years as a head start over most other assets.
When it comes to biggest financial institutions and names in the financial sector such as JPMorgan chase, Visa, Mastercard and PayPal, this is where Bitcoin shines with a market cap more than double each of those companies. The kicker is that Visa, Mastercard and PayPal all now offer to settle transactions in Bitcoin while JPMorgan just recently gave Bitcoin a bullish $130,000 price target.
If JP's bullish price target is reached it would put Bitcoin over $2 trillion in value placing it in striking distance of second place Apple and third place Microsoft. As the rate of adoption continues to increase, with more companies buying bitcoin to diversify holdings such as Tesla, it would seem the crypto space is only going to keep picking up momentum.
Disclaimer: I'm not a financial advisor and this is not financial advice.
