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Bitcoin’s Market Cap Soars Past World’s Largest Financial Institutions, Including JPMorgan Chase and Bank of America

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Bitcoin’s (BTC) market capitalization now exceeds the valuation of some of the world’s largest financial institutions amid a sustained bull run that catapulted the largest crypto asset above $48,000.

CoinMarketCap shows that Bitcoin’s market capitalization has soared above $900 billion as it printed a new all-time high of $48,745 on February 12th, surpassing the valuation of financial giants Visa ($462.93 billion), PayPal ($349.44 billion), and Mastercard ($339.10 billion). Bitcoin’s market cap is also larger than the combined value of JPMorgan Chase ($430.72 billion), Bank of America ($288.67 billion), and Citigroup ($132.48 billion) with an aggregate market cap of $851.87 billion, according to data from CompaniesMarketCap.

The flagship cryptocurrency is ninth on the list of top assets by market cap. Gold, which has a market cap of $11.59 trillion is in the lead, followed by iPhone maker Apple, petroleum and natural gas titan Saudi Aramco, and tech goliaths Microsoft and Amazon.

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The king coin sits above electric car firm Tesla, social media giant Facebook, and Chinese e-commerce company Alibaba in the ranking, but it is below silver, Google-parent company Alphabet, and Shenzhen-based tech firm Tencent.

Source: CompaniesMarketCap

Ethereum (ETH) also made it in the list of top 100 assets by market cap. The leading smart contract platform takes the 52nd spot with a market capitalization of $209.7, surpassing the valuations of Wells Fargo and Morgan Stanley.

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