Bitcoin Touches $500 Billion Market Cap, Beats Visa, Walmart and Samsung

The price of Bitcoin breached $28,000 yesterday as the cryptocurrency became more valuable than the payment services giant Visa.

Bitcoin, the world’s largest cryptocurrency is having a dream run in December. The price of BTC jumped above $28,000 on Sunday as the total market cap crossed $500 billion. The most valuable cryptocurrency is now worth more than the world’s largest payment services company Visa and the world’s top retailer Walmart.

The price of Bitcoin is currently trading above $27,000 with a total market cap of $501 billion. The total market cap of Visa currently stands at around $488 billion. BTC’s total value is now more than the world’s most prominent retailer, Walmart which has a total market cap of around $400 billion.

Earlier this month, Bitcoin crossed the total market cap of another financial services giant, Mastercard. The recent price rally is helping BTC to reach significant milestones. Bitcoin price must be targeting Warren Buffet’s Berkshire Hathaway, which has a market cap of nearly $530 billion.

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According to the latest data available on Yahoo Finance, the total value of electronics giant, Samsung stands at around $451 billion, which means that BTC is now more valuable than Samsung in terms of market cap.

Bitcoin Price Jump

The Bitcoin price has seen significant growth in recent weeks. The world’s top cryptocurrency was trading around $17,000 during the last week of November with a total market cap of $310 billion. December sparked the Bitcoin price rally as BTC added nearly $200 billion in its market cap within 30 days. The dominance of Bitcoin has increased in the crypto market as the top cryptocurrency now accounts for approximately 70% of the total market cap of cryptocurrencies.

Bitcoin is not the only asset that has gained value in December, other crypto-assets like Ethereum, Bitcoin Cash and Litecoin also posted strong gains in recent weeks. XRP faced a tough challenge last week when the SEC filed a lawsuit against Ripple and its two executives for conducting a $1.3 billion unregistered securities offering which caused a 50% crash in the XRP price.

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