Bitcoin Surpassed MasterCard Value

[mamamu111]

The total market capitalization of the flagship cryptocurrency Bitcoin has surpassed that of payments giant Mastercard, earning BTC the 16th place in a list of the largest companies in the world by market capitalization. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2020/11/23/bitcoin-surpassed-mastercard-value/

[DdmrDdmr]

Actually, BTC is now holding the 15th position, just below and within reach of JP Morgan (see
https://assetdash.com/), and VISA is not that far off. BTC has more way more potential marketcap growth than any individual corporation on the list, and it should be just a question of a short period of time for it to weave into the top 10, and then wiggle it’s way up from there.

[NotATether]

Bitcoin is not a company so it's not useful to compare its market capitalization to the total asset value of an actual company like MasterCard. You are making an apples-to-oranges comparison.

Assets are defined as things that can be sold for liquidating a company, you cannot sell off (liquidate) all the bitcoins that exist and expect its market value to stay the same while you do that, the market capitalization "assets" will surely go into free fall. That's why Bitcoin's market value can't be considered as corporate assets.

[DooMAD]

Bitcoin is not a company so it's not useful to compare its market capitalization to the total asset value of an actual company like MasterCard. You are making an apples-to-oranges comparison.

Assets are defined as things that can be sold for liquidating a company, you cannot sell off (liquidate) all the bitcoins that exist and expect its market value to stay the same while you do that, the market capitalization "assets" will surely go into free fall. That's why Bitcoin's market value can't be considered as corporate assets.

True, but then people also argue it's not 100% accurate to compare it to the M1 of national currencies either.  There isn't much we can compare it to, which is a shame when comparison is a useful method to help people understand scale.

[stompix]

Actually, BTC is now holding the 15th position, just below and within reach of JP Morgan (see
https://assetdash.com/),

The word "assets" is a bit misleading, that's the equity, JPM has 3.2 trillion in assets.

There isn't much we can compare it to, which is a shame when comparison is a useful method to help people understand scale.

Best it's to compare it to things like itself, that will be...eth, andBTC is already 6 times bigger.  
But really, those kinds of comparisons will always have flaws, been companies of the same business type have misleading valuations, based more on the possible value than the actual value or the number of clients or assets or anything else, Tesla is one of those, for example, one out of hundreds.

The scary part about it is that there are some useless coins that have a bigger market cap than companies with a solid business with dedicated customers and a known brand behind it while most of all those coins will be gone and dead in a few years.

[joniboini]

Comparing the number of transactions processed on the network would be a bit better instead of doing this. This comparison is both misleading and not useful at the same time as others have said. Especially because the market cap definition is different.

[catur123]

In order to compare BTC with other and different markets, I don't think it is necessary because the market is different from the peer like Mastercard.
And it is true that the word asset can be misleading in my opinion.

[andrewyang]

In order to compare BTC with other and different markets, I don't think it is necessary because the market is different from the peer like Mastercard.
And it is true that the word asset can be misleading in my opinion.

This looks like a perfectly comparison to me.

[oprahwindfury]

The title actually blows the mind. Surely,it means a lot for the bitcoiners. The previous record of bitcoin says that it is changing the  people mind into digitalization and day by day it is increasing a lot. So,this is crossing the moon hieght.

[shield132]

Actually, BTC is now holding the 15th position, just below and within reach of JP Morgan (see
https://assetdash.com/), and VISA is not that far off. BTC has more way more potential marketcap growth than any individual corporation on the list, and it should be just a question of a short period of time for it to weave into the top 10, and then wiggle it’s way up from there.

Without doubt, bitcoin has the highest potential of growth but at the same time, Tesla has great potential too, they have choose the great and risky niche and succeed, will succeed in future too. On another hand, Pfizer may rise too because of Covid Vaccine, so their growth potential can be quite good. Would say the same about Nvidia because they have some revolutionary ideas in the gaming industry.
And paypal? Personally I think that at the moment, Bitcoin and Paypal will synergistically help each other in this case. Like symbiotic and synergic relationship at the same time.

[ChrisPop]

I expect much more from Bitcoin taking into account that it is an asset and not a stock. However only by small and steady steps you get the trophy.

I'm wondering if JP Morgan will declare anything once Bitcoin overpasses them. I think we'll see that happening soon.

[HabBear]

There's a hundred well known global companies that Bitcoin has exceeded market capitalization. This will come across rude, i don't mean it that way, it's just reality. And it's not the first time either. This is just news we'd expect to hear about as the price per bitcoin increases.

It's not really a fair comparison. Yes - we use Bitcoin as an investment, but it's not a company. Market captilization for companies takes on a meaning for the breadth of their business. It's a proxy for revenue power and interest from the investment community. Bitcoin is not a business.

A better comparison is measuring Bitcoin's market capitalization to that of Gold or the US Dollar...in that case it's not really market capitalization, just total global supply of XXX.

There's $5 TRILLION in USD in existence in the world right now

There's only $343 BILLION of BTC in existence in the world right now, and obviously that will fluctuate with the price.

Just putting things in perspective. We should track how the price of bitcoin is surpassing notable currencies in value, along with precious metals and other commodities.

[hatshepsut93]

Some people would probably use this fact to say that Bitcoin is better than Mastercard, but actually Bitcoin is still incredibly far from even becoming Mastercard's competitor, since so little payments are done with it. Usually, when someone compares marketcaps and performance of two stocks in the same field, they imply that one company is doing better than the other and has more investor faith in it, but you can't say the same about Bitcoin, which is right now mostly a speculative asset.

[sheenshane]

Bitcoin isn't a corporate asset and not owned by any government or private businesses it will be ridiculous to compare it to Mastercard and to any financing company.  In short term, Bitcoin is decentralized and nobody behind on this.

However, OP might just want to say that in terms of the value that is circulating in the stock market then Bitcoin does really surpassed Mastercard now, and being in 15th place now it could possibly surpass Visa in no time.  This is only about the transactions and total amount of an asset circulating and being traded which refers not to a specific company but the asset itself that can be seen in the global market.

As the description in the whitepaper of Bitcoin, "A Peer-to-Peer Electronic Cash System", you can actually differentiate the Bitcoin and Mastercard value.

[sunsilk]

I'm wondering if JP Morgan will declare anything once Bitcoin overpasses them. I think we'll see that happening soon.

They don't have to declare anything if Bitcoin surpasses their entire market cap value. It's already known that they're also into bitcoin after their CEO once told that bitcoin is a fraud.

And we got some interesting news and claims again from him.

‘Not My Cup of Tea’: Jamie Dimon Is Still Not a Bitcoin Fan

[bittreo]

They will have to be familiar and adoptive towards cryptocurrencies if they want to be in business. They certainly can't just create a new blockchain and launch a coin on top of that to ingrate it in its payment processor. Why? They don't seem capable.

[btcsmlcmnr]

Some people would probably use this fact to say that Bitcoin is better than Mastercard, but actually Bitcoin is still incredibly far from even becoming Mastercard's competitor, since so little payments are done with it. Usually, when someone compares marketcaps and performance of two stocks in the same field, they imply that one company is doing better than the other and has more investor faith in it, but you can't say the same about Bitcoin, which is right now mostly a speculative asset.

As speculative asset, people want to buy, hold and take profit. The usecase as transaction mean is not common with bitcoin. I do know people use bitcoin for transaction but there are other means to move money and bitcoin is one of them. I don't think bitcoin is the most favorite cryptocurrency for people to move their money. Tether USD is an example. Before 2020, people use ERC20 chain to move USDT or OMNI layer on bitcoin network. This year, with the growth of TRON and acceptance to list the coin and include its chain and contracts as means for deposits and withdrawals on exchanges, people have more preference to use TRC20 for their USDT transactions.

I don't suggest people to move their money with altcoins (but they do it everyday in life) as altcoin networks have smaller hashrates and are more easily to be attacked. Lightning network can derivative products and adoption for LN can help bitcoin is used more regularly for transactions.

[error08]

Currently, bitcoin at 12th position below Visa at 11th, following by Berkshire, TSM, and Tesla at 8th, it's a time matter until bitcoin growing bigger and takes the top ten position among bigger companies. However, it just a market capitalization, the rise and fall of bitcoin price affect the cap as a speculative asset that could change a few thousand dollars within hours. Bitcoin needs more adoption and scalability to be used widely around the world, to become more stable as an alternative decentralized currency.

[DarkDays]

Actually, BTC is now holding the 15th position, just below and within reach of JP Morgan (see
https://assetdash.com/), and VISA is not that far off. BTC has more way more potential marketcap growth than any individual corporation on the list, and it should be just a question of a short period of time for it to weave into the top 10, and then wiggle it’s way up from there.

I agree that although it may not look it, BTC is actually bigger than a lot of corporations and even entire economic systems like the GBP.  So hearing that it is now closing in position to JP Morgan and VISA is not that surprising to me. All of these factors though should add up to fuel BTC's mass adoption.