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Bitcoin Now Worth More Than JPMorgan Chase, Bank of America and Wells Fargo Combined

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Fri, 02/12/2021 - 06:35
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Alex Dovbnya
Bitcoin's market cap has surpassed $900 billion for the first time
Bitcoin Now Worth More Than JPMorgan Chase, Bank of America and Wells Fargo Combined
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Bitcoin, the largest cryptocurrency, has exceeded the cumulative market capitalization of JPMorgan Chase, Bank of America, and Wells Fargo.

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Earlier today, the cryptocurrency hit a new all-time high of $49,000 on the Bitstamp exchange before retracing below $47,000. Its market cap has reached $900 billion for the first time.

The flagship coin has soared over 26 percent this week alone, with its rally being bolstered by Tesla, Mastercard, and BNY Mellon.

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Bitcoin surpassed the market cap of JPMorgan, the largest U.S. bank by assets, back in mid-December.

It is also currently bigger than all but three U.S. public companies (Apple, Microsoft, and Alphabet).  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.