Bitcoin Is Now Bigger Than Bank of America, Netflix, and Shopify

Bitcoin is now worth $15,559 with a market cap of $288.3 billion, making it the 21st biggest asset in the world by market cap, according to Asset Dash. 

The ranking places Bitcoin ten places above Bank of America, which is down 30% since January due to lower interest rates and higher loan defaults amid the COVID-19 crisis. 

BoA stocks have seen an especially rocky week with plunging Treasury yields and election uncertainty.

Higher up on the list are JP Morgan Chase & Co., Tesla, Visa, Facebook, and Walmart. The top three companies are Apple at $2.02 trillion, Microsoft at $1.68 billion, and Apple at $1.66 billion.

Bitcoin’s climb up this list marks the stunning progress BTC has made in recent years towards mainstream recognition as one of the world’s best-performing assets. 

Today, Bitcoin is also featured on the front page of the r/investing community on Reddit with 1.2 million members, most of which are likely retail investors. Conversely, major institutional investors are now betting on BTC amid economic and political uncertainty and a weakened U.S. dollar. 

Both demographics are likely to push Bitcoin into the top-20 global assets soon.