Bitcoin’s Market Cap Surpasses $400 Billion For The First Time In History As Price Touches $23K

Over the past two days consecutively, the world’s largest digital currency by market value Bitcoin (BTC) is trading on the highest level of its bullish run. Bitcoin has seen the addition of more than $2500 in its price value within the duration of the last 24 hours. It first recorded its all-time high value by surging above $20k. After that, it broke above the price figure of $21,000. Following this breakout, the leading digital currency spiked above $22k and has recorded its new all-time high value. Bitcoin’s price value has even touched the $23,000 mark as well.

With this amazing bullish performance in price value, the top-ranked cryptocurrency has reached a new all-time high value in market capitalization. The market cap of the leading digital currency has surged above $400 billion for the first time in history. Prior to this, Bitcoin has not even gone close to this mark ever before since its year of establishment in the year 2009.

At the time of writing, the market cap of BTC is standing at around $420 billion, as per the data present on CoinMarketCap (CMC). Bitcoin’s potential rally has also boosted the market capitalization of the entire cryptocurrency market. The overall crypto market cap has skyrocketed above the mark of $600 billion. As per CMC data, the overall cryptocurrency market capitalization is standing at around $645 billion with a price increase of more than 12 percent over the last day.

Another achievement that the leading digital currency has registered is to overtake three big financial firms in terms of market cap. Bitcoin has left behind the major American multinational investment banking and financial services firm JP Morgan Chase ($367 billion), American multinational medical device company Johnson & Johnson ($394 billion), and the American multinational retail corporation Walmart ($411 billion). As per the data presented by Asset Dash, Bitcoin is now the 12th biggest asset in the world in terms of market value. Bitcoin now aims to overtake the leading payment services firm Visa and need nearly $40 billion in market cap to surpass the firm.

As always, Bitcoin’s potential rally has also impacted the rest of the cryptocurrency market which is now trading bullish at the moment. Ethereum has surpassed the resistance level of $650 and is now heading toward $700.