The increasing acceptance of bitcoin among investors and governments globally has led to a huge jump in its value in recent times. Because of this, it has reached the level of more than 50 percent of the market cap (Mcap) of all crypto ie two lakh 70 thousand crore dollars. The current market capitalization of bitcoin in the financial services business category has reached the level of about one lakh 16 thousand million dollars. This is more than twice the combined market cap of the two largest financial services companies JPMorgan Chase and Visa.
According to data from CompanyMarketCap.com, the combined business of the two firms at the time of writing this report is $97,4600 million, with a market cap of $50,320 million for JPMorgan Chase and $47,143 million for Visa. Importantly, the market cap of Ethereum ($53,840 million) is also higher than the market cap of JP Morgan Chase. However, cryptocurrencies and companies cannot be compared as cryptos are a peer-to-peer software system. CompaniesMarketCap also includes public companies, precious metals such as gold and Exchange Traded Funds (ETFs). After JP Morgan and Visa, the other top companies in the financial services category were Bank of America, Mastercard and PayPal, with market cap of $39200 million, $33900 million and $26700 million respectively.
Mcap of Top 10 Firms: Market cap of eight of the top 10 companies increased by Rs 1.18 lakh crore, know which two companies suffered a loss
Bitcoin crosses 60 thousand since the introduction of ETF in the US
Bitcoin had crossed 60 thousand dollars on 18 October. This surge in bitcoin was due to the approval of the first bitcoin futures ETF by the US Securities and Exchange Commission. However, as of the writing of the report, according to the data of CoinMarketCap, it is trading at the mark of 62 thousand dollars. Talking about other cryptocurrencies, Altcoins also boomed. In the past seven days, Solana has seen the highest growth of 33 per cent among the top 10 cryptocurrencies. After this, Polkadot has increased by 26 percent, and the price of Binance Coin by 27 percent. At the same time, Meme coins Dogecoin registered a decline of 0.89 percent, while Shiba Inu declined by about 13 percent.
Mukesh Ambani’s London House: Is Mukesh Ambani going to settle in London, know what Reliance said?
According to a weekly report by digital asset management firm CoinShares, investments in crypto funds and assets were recorded at around $150 million in the third week of October, while the total crypto assets under management reached a new record high of $7920 million during the week. .
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.