Bitcoin beats three major US financial companies to place it in first place in market valuation

This has repeatedly reflected the development path of Bitcoin as an asset with significant value. Compared with other assets known as "value stores", Bitcoin has also shown that it has a faster value growth than these assets, as well as the tremendous power inherent in its own value.

As this pattern continues, some industry players in the cryptocurrency space have taken time to point out the alarming disparity in Bitcoin’s value as an asset , this time in comparison to some of the world’s leading companies.

The analysis and comparison, made by one of the members of the cryptocurrency ecosystem Neuner, includes JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, which are the leading investment and financial services giants in the United States. All of them have been in existence for many years, at least several years before the birth of Bitcoin.

Interestingly, just twelve years after its creation, Bitcoin has already become the most valuable asset against three of these companies, ranking first.

JPMorgan Chase is the only firm with more than $41 billion in Bitcoin, and it will still swap positions with Bitcoin in a few years, given that Bitcoin's price maturation process is more consistent. This brings up factors such as volatility and adoption, all of which are surging every year.

The interest in Bitcoin has now shifted, and investors from other markets have also turned to Bitcoin as the emerging alternative asset class has become a thriving channel this year when the U.S. economy has had to deal with yet another recession. Investors from some of the leading companies and global institutions have poured into the market, thus likely boosting the price of Bitcoin at the same time.

Circulating supply is the second metric used to measure Bitcoin’s market value, and as mining activity intensifies, the amount in circulation will increase, providing another boost to Bitcoin’s market value. However, it is important to note that Bitcoin’s market value is not the most accurate metric for calculating its value .

Ironically, all of the aforementioned companies have bought into cryptocurrencies, with JPMorgan Chase already accepting Bitcoin for banking services. Earlier this year, news broke that the U.S. bank was also considering considering cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash as equivalents for crypto-asset-related transactions.

Clearly, Bitcoin usage is increasing, and banks have no choice but to create policies and models that force them to accept or hold cryptocurrencies . In the long run, traditional companies will continue to push Bitcoin’s dominance to expand further.