According to Yahoo Finance, Visa, a financial services giant, is worth $ 460.06 billion. As of December 26, Bitcoin was comfortably above $ 462 billion.
But aren’t Visa and Bitcoin a comparison?
Bitcoin is basically a peer-to-peer software protocol. Visa is a for-profit corporation. Some may argue that direct comparisons between the two are inappropriate because they are fundamentally different.
But Bitcoin’s surpassing the value of Visa is a symbol above all else. According to Bitcoin’s current market share, it is the 13th largest company in the world.
Meanwhile, corporate interest in Bitcoin has risen throughout 2020. There is an organizational demand for Bitcoin It is still increasing, Surpassing Visa’s market constraints can increase confidence around Bitcoin among other organizations.
More organizations and accredited investors are gaining exposure to Bitcoin Via Grayscale And CME Bitcoin futures market. With more than $ 1 billion in profit on the CME Bitcoin futures market, there are nearly $ 17 billion in assets under Grayscale’s management.
With PayPal’s support for Square and Bitcoin, Visa has shown a growing passion for crypto in recent months.
For example Wirex, the issuer of the Crypto Visa debit card, has become a major member of Visa in Europe. Cuy Sheffield, Visa’s Secret Director and Head of cryptocurrency, He said:
Digital currency has the potential to extend the value of digital payments to more people and places. More than 61 million merchants at Visa are excited to work with innovative fintechs such as Wirex and their customers to use digital currency. Network “
Show where on-chain BTC data is coming from
Recently, traders and on-chain analysts say Bitcoin’s path remains positive.
In the study Hello $ 23,069 and $ 23,377 will soon be the main support levels for BTC. They Posted by:
“Bitcoin has long been above $ 23,000. The IOMAP index supports that position. It shows strong support in the range between $ 23,069 and $ 23,377.1, and it bought nearly 900,000 BTC for the previous $ 796,000.”
As long as Bitcoin is 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 the total cryptocurrency market capitalization to be around $ 780 billion. he He said:
“The #crypto market capitalization is a perfect fit when testing high altitudes. They are worth $ 550 million and $ 450 billion to look at. These areas are buying down opportunities. If this is the case then maybe ATH will be above again.”