Bitcoin capitalization has overtaken Visa for the third time

Since the beginning of 2023, bitcoin has increased in price by 48%, and this has led to the fact that the market capitalization of the most popular cryptocurrency exceeded the capitalization of the payment processing giant Visa.

At the moment, the value of bitcoin is $24,838, and its market capitalization of $473.29 billion is now higher than that of Visa, with a market capitalization of $469.87 billion.

Earlier, a similar superiority of BTC over Visa was recorded at the end of December 2020. Then bitcoin for the first time reached the price mark of $ 25 thousand in the process of a price rally, which eventually led the cryptocurrency to historic highs ($63,170 in April 2021).

Then, in the period from June to October 2022, Visa again overtook bitcoin in terms of capitalization, taking a short break on October 1. And after that, the payment company once again regained its leadership until the collapse of FTX at the end of last year. 

It is worth noting that due to the collapse of the crypto exchange, bitcoin reduced its market capitalization by $100 billion in just 4 days. However, this year he managed to fully recover and accumulate another $65 billion.

Economists also note that in addition to Visa, bitcoin is significantly ahead of Mastercard, the second largest payment processing network with a market capitalization of $345.24 billion.