Bitcoin, the largest cryptocurrency, has exceeded the cumulative market capitalization of JPMorgan Chase, Bank of America, and Wells Fargo.
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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Alex DovbnyaIt is also currently bigger than all but three U.S. public companies (Apple, Microsoft, and Alphabet).
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