Bitcoin overtakes global giant Visa for the third time in history

A jump in the value of BTC $56,280.35 Bitcoin -1.52% Market capitalization $1.11 trillion VOL. 24 hours $2.8 billion has increased the market capitalization of bitcoin, allowing the cryptocurrency to overtake payment giant Visa. According to CoinMarketCap, as of Monday morning, BTC’s market capitalization is $ 472 billion, while Visa’s is $ 469 billion.

This is the third time in history that BTC has surpassed Visa’s market capitalization. The first time bitcoin overtook the payment system was in late December 2020, when BTC also reached the $ 25,000 mark for the first time. Visa was again ahead of BTC in the period from June to October 2022. After that, bitcoin briefly surpassed Visa’s market capitalization before the payment company regained its position.

Bitcoin dropped lower after the FTX crash, losing more than $ 100 billion from November 6 to 10, 2022. However, BTC has now fully recovered and accumulated an additional $ 65 billion in capitalization to overtake the payment giant.

🚨BREAKING: #Bitcoin market cap is now worth more than Visa ‼️🚀#BTC #Crypto #CryptoNews #cryptocurrecy #cryptomarket pic.twitter.com/rZrLufkwLj

— Ajay Kashyap (@EverythingAjay) February 19, 2023

It is worth noting that given the small difference in market capitalization between BTC and Visa, the situation can change at any time. Bitcoin is also ahead of the second largest payment processing network Mastercard, which currently has a market capitalization of $ 341 billion.

It is worth reminding that Tether, the issuer of the USDT stablecoin, processed $ 18.2 trillion worth of transactions in 2022, outpacing the largest traditional payment systems. For comparison: Visa processed $ 14.1 trillion worth of transactions, and Mastercard processed $ 7.7 trillion.