Brad Chillum
The bitcoin price climbed heavily over the past week. According to CoinMarketCap, the global average bitcoin price crossed $13,000 on 6th of December. That represents a single-day increase of more than 10 percent, raising bitcoin’s total valuation to a new all-time high of $220 billion. This is a huge step for bitcoin. Apart from bringing even more awareness to this market, it also made many bitcoin holders extremely happy and definitely richer.
Not only that, on 6th of December bitcoin’s growth accomplished another significant aspect. It helped the total cryptocurrency to be now worth more than investment banking giant JPMorgan Chase, the frequent bitcoin critic. Following today’s $25 billion growth, the total cryptocurrency market cap is now valued at $378 billion. Thus it is worth $11 billion more than JPMorgan, whose value is close to $367 billion.
This triumph is particularly a sweet revenge for long-term bitcoin investors. They have been the subject of ridicule from JPMorgan CEO Jamie Dimon for years. Therefore, it is an amazing time to see that cruptocurrency over passed such a giant. Even more, because all this happened, his view on cryptocuurency and bitcoin may change dramatically. And to see him starting to talk nice about bitcoin will be an even sweeter revenge.
But one thing is sure. The cryptocurrency ecosystem has put JPMorgan in its rear-view mirror. What comes next will be even more amazing, as cryptocurrency and bitcoin are rising like never before. A correction in price may come at any moment, but the overall gain will still be a big one. We are definitely seeing the greatest time cryptocurrency has ever had. And with so many people waking up and adopting it, we can be certain that greater things will happen. Only time will tell, and all we have to do is keep our eyes opened.
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