In recent years, the value of Bitcoin has not stopped growing, and along with it, so has the market capitalization of the cryptocurrency. However, despite having a market of more than 200 billion dollars, BTC continues to lag behind traditional financial institutions in terms of capitalization. Which doesn’t stop Anthony Pompliano from claiming that Bitcoin outperformed JP Morgan and Bank of America in the Tweet of the day:
Bitcoin vs. traditional banking
Since the birth of Bitcoin, the primary goal of cryptocurrency has been to replace fiat money as a medium of exchange globally. Getting little by little adding new users to the crypto community, who believe that the goal of BTC is achievable. What has allowed the cryptocurrency to currently position itself with a market capitalization of 198,387 million dollars.
Yet this number, impressive as it may sound, is still only a small fraction of the traditional financial market. With two of the largest banks in the world, JP Morgan and Bank of America, having a capitalization of 300 billion and 213 billion respectively.
What does not prevent crypto influencers like Anthony Pompliano from being only a temporary situation. While cryptocurrencies continue their unstoppable advance to become the basis of the international financial system. Reason why Pompliano wrote on his Twitter account assuring that BTC would soon reach the trillion dollars:
«Bitcoin has a market capitalization of $ 200 billion. Both JPMorgan Chase ($ 300 billion) and Bank of America ($ 213 billion) have higher market capitalizations. Bet I know which financial service hits 1 trillion dollars first 🙂«.
Despite the criticism this comment has raised from crypto users, who deny that centralized institutions such as Bank of America and JP Morgan can be compared to Bitcoin. The truth is that it is only a reaffirmation of the confidence that Pompliano has shown for years in the future of BTC.