Bitcoin surpasses Visa’s market cap as it hits $25,000

The number one cryptocurrency, Bitcoin reached an all time high price of $25,000 and in the process surpassed the market cap of Visa.

Bitcoin (BTC) price traded above $25,000 on December 25 in a number of cryptocurrency exchanges marking the highest price the cryptocurrency has ever reached. This historic milestone also saw Bitcoin surpassing the market capitalization of financial payments giant, Visa.

See Also: Mayor of Miami describes Bitcoin as a stable investment during an incredibly unstable year

According to Yahoo Finance, Visa is valued at $460.06 billion. While Bitcoin’s market capitalization as at December 26 is hovering above $461 billion. The current market capitalization of Bitcoin can see it ranked as the thirteenth-largest company in the world.

Bitcoin surpasses Visa's market cap

Despite corona virus (covid19) pandemic, Bitcoin has witnessed a meteoric rise in 2020 with surging institutional interest. The recent milestone achievement, could further boost the confidence around Bitcoin among institutions and high-profile investors.

Visa has also shown interest in Bitcoin and other cryptocurrencies following in the footsteps of PayPal and Square. Visa’s crypto based debit card issuer, Wirex became a principal member of Visa in Europe this year.