Bitcoin Beats Out Visa Once Again
Since the beginning of 2023, Bitcoin has increased by 48%, resulting in its overall market valuation beating out the payment processing giant Visa. Reports coming out of CoinMarketCap the price for Bitcoin is resting at $24, 365 with a market total of $470.16 billion, more than Visa's current valuation holding at $69.87 billion.
This increase occurred in December 2020, when Bitcoin was sitting at $25,000 in value. This event saw an overall fluctuation of Bitcoin, which began at $10,200 in September 2020 and finished at $63,170 by April 2021.
From June to October 2022, Visa gained the upper hand, holding a higher valuation than Bitcoin for those several months. The collapse of FTX, which took out over $100 billion in Bitcoin's value, also helped drive Visa's increase in total value.
Only a short time after, Bitcoin gained an additional $65 billion to its overall $408 billion entire worth, finally allowing it to surpass Visa. It will be interesting to see how events unfold in the coming weeks and months, as Bitcoin was trading at a current discount of 63% compared to its all-time high of $69,044 in November 2021.
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