Bitcoin has truly been bringing its blessings this Christmas, as the world's largest cryptocurrency hit a new All-Time High at $26k, while surpassing Visa's market cap with over $480B invested in BTC.
I’m Jewish. My mom is Jewish and my dad is Jewish. But I have to admit, I love the spirit of Christmas. The giving, the lights, the traditional recipes, the family gatherings to enjoy good food and drinks. I have an even deeper appreciation for the holiday this year since Bitcoin has truly given us a Christmas miracle.
Bitcoin hit a new All-Time High (ATH) in US dollar price at $26,000 on December 26, as well as new ATH in market cap above $480 billion. The meteoric rise of Bitcoin during this ongoing and enigmatic bull run is primarily driven by strong fundamentals, sound financial policy often referred to as “written in stone”, unabated fiat money printing leading to inflation, nd mounting institutional investor interests.
Bitcoin Overtakes Visa’s Market Cap
Bitcoin also flipped, or dethroned, payment processor giant Visa on the list of the world’s largest companies by market cap. Visa has 469 billion in market cap, and Bitcoin’s current market cap would theoretically make it the 11th largest company in the world.
Bitcoin surpassing Visa’s market cap is highly symbolic given that Bitcoin is a peer-to-peer decentralized payment network and Visa is diametrically opposed Bitcoin as a for-proft company functioning as a 3rd party to settle transactions and payment between two parties.
During the same day as the overtaking of Visa’s market cap, Bitcoin also left behind South Korean electronic giant Samsung as well as Taiwan Semiconductor Manufacturing Company, also known as TSMC, on the largest company market cap list which is the world's third largest semiconductor manufacturer after Intel and Samsung.
Not Much Standing in Bitcoin’s Way
Despite fears of securities regulation against Ripple and XRP, as well as crypto regulation on reporting for transfers of US citizens when transacting with a self-custody wallet, Bitcoin seems to be untouchable at the moment. The stock-to-flow (S2F) model of Bitcoin predicts a price exceeding $100k in 2021. Combine the S2F with a mounting supply crunch of BTC since all newly mined Bitcoin are quickly bought up by institutional players and crypto hedge funds, and an ever increasing demand for BTC… well, you do the math. BTC is likely only getting started and we have seen nothing yet.
BTC in Klever
Bitcoin is a core element of the Klever App, and you can now buy BTC seamlessly right inside the app. Additionally, you can swap BTC with over 200 trading pairs, hold, send, receive and charge Bitcoin at the click of a button, and of course choose the fee you like to use when sending Bitcoin to someone. Overall, the Bitcoin experience in Klever is like no other wallet on the market. It’s simple, fast, and full of features, so make sure to download Klever App today in the link below to understand what the future of crypto feels like today.
Director of Communications and Marketing at Klever.io
*This article is not financial advice.