Bitcoin has seen a strong surge over recent weeks amid a muted background for the stock market. The price of the leading cryptocurrency has rocketed higher by approximately 70% in the past five weeks while the S&P 500 has only gained a few percent over that same time frame.<\/p>\n
This rally in the price of BTC against other assets has allowed it to set some interesting milestones. For context, the market capitalization of Bitcoin is basically at all-time highs despite BTC being slightly shy of its all-time highs.<\/p>\n
As noted<\/a> by Anthony Pompliano, an investor in the cryptocurrency space, the number of companies (public) that have a bigger market capitalization than Bitcoin has shrunk to 11:<\/p>\n “There are only 11 companies in the world who have a larger market cap than the Bitcoin settlement system right now.”<\/p><\/blockquote>\n More updated data suggests that this number is closer to 16 or 17, as the stock marked has rallied since the data that Pompliano used was updated.<\/p>\n These include but are not limited to Saudi Aramco, Microsoft, Apple, Amazon, Alphabet Google, Facebook, and a number of others.<\/p>\n It’s worth noting that just recently, the market capitalization of BTC surpassed that of JPMorgan, which used to be one of the harshest critics of the cryptocurrency until the company began changing its tune recently.<\/p>\n There are only 11 companies in the world who have a larger market cap than the Bitcoin settlement system right now. pic.twitter.com\/AmYwLssvH7<\/a><\/p>\n — Pomp \ud83c\udf2a (@APompliano) November 21, 2020<\/a><\/p><\/blockquote>\n\n