Not to burst the bubble though, every bull run that we have, Bitcoin will suddenly goes up in terms of market cap and then compete not only with banks but top tier companies in the world and everyone thinks that it's a good measurement.
However, when we go on a bear market, numbers are going to go down hard as well and then we are out of the top 10 or top 20. So for me, this numbers are not worth to look at, most valuable companies are consistent as compare to Bitcoin, just saying.
It's not worth to look, ok. That's fine if that's what your preference is. It's true that the numbers will definitely going to come down once it goes in a bear market. But we do get the idea here I think that for every bull run, if Bitcoin doesn't get more than 2x on the next bull run from what we've got right now, it's probably the same measure again. Actually, this isn't a measure but it's just a fact about its market capitalization with the combination of the three. And so if it won't more than 2x or just stay at 2x in the upcoming years, sure these market caps of banks will also multiply but we know the attitude of Bitcoin every cycle that it moves up.
I think before you write, you have quoted the image with a bit of reseach about that. The actual market cap of BTC was really higher than of those thanks to upcoming bull run and the effect of halving and its demand. It's not that hard to prove, you guys talk about the assets of these banks and they can be a different category. I'm not sure why you're not happy when you guys are preaching to buy Bitcoin and then some folks over the internet shares some encouragement on how far is Bitcoin is now based on its market capitalization and thinks that this is a comparison where it's just a visualization of their market caps. Anyway, the message from me is just about people who are still doubting Bitcoin and how big it is and the opportunity that they're missing while they can see it.
I of course read it well before I replied to you and also researched very well in addition to what I knew already before making my contribution which refuted what you wrongly claimed. Also, why should I add the image when the gist on it is also replicated in the writing here? I don't know the difference it will make when it is even directly buttressing the title in the OP, which of course is not correct.
Besides, it is laughable for you to say we should stop ascribing the worth of a company to its assets. If I may ask you, what does an asset mean? Is it not a worth? If JP Morgan Chase bank is sold today, the valuation will be based on its worth which includes its asset, or do you think otherwise? Just like Bitcoin if all of it were sold today, it is the market capitalization that is its worth because it is a liquid asset. This liquid asset is not even as reliable as a physical asset which JP Morgan Chase has in abundance.
So, it can't be a heretic claim by the bank to have $3.7T worth of assets and $303B shares holding. If it is even the shares holding you are alleging, it would have been better, but saying their asset is not contributory to their worth can only prove you don't even know how worth is being evaluated.
I guess I've explained what it is all about and it doesn't have to be long. But yes I agree, you're right.
If we talk about stocks and Bitcoin, then it's clear and very good that Bitcoin has a higher market capitalization than the stocks of many other banks but it's still not a right comparison. These banks operate locally, for specific countries and populations while Bitcoin has no borders. Anyone from any part of the world can easily buy Bitcoins but it's not that easy to buy stocks, at least in my country it wasn't easy till 2020.
Besides stock market capitalization, it's fair to say that Bitcoin can't stand close to the value of assets that JPMorgan, Bank of America and IC Bank of China.
Yes, but the point isn't about comparing their assets to Bitcoin. It's just all about the sums that these three have and how much Bitcoin reached from now on. And just a simple reminder that those doubters of Bitcoin are seeing that it's grown a lot and has a market cap as big as these banks and even more combined.
Bitcoin reflects a notable shift in how value is perceived and stored in the modern economy. Bitcoin market capitalization has surpassed that of the world three largest banks , highlighting the cryptocurrency strong future, rapid growth, growing impact on global finance.
But the fact that the value of Bitcoin is increasing is not something to be happy about . Every bank has its own constraints, rules within which it has to operate. But in the case of Bitcoin, this catchment barrier has no rules and no obligations. It can be given to people of all countries who have internet and android mobile connectivity. So Bitcoin has much more reach than a single bank or a centralized bank. But all these bitcoins are held by a small number of people .
Bitcoin will increase in value and become more accessible as people all over the world start accepting it.
I guess, that even the spread of being happy on what Bitcoin has met with its market cap doesn't make you folks happy. Because for me, even if I'm not as old as the others that has entered this market, from the low market cap that it has got when I started to invest on it. Now that it has grown a lot and seeing how much it is a trillion dollar market cap makes me happy.