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When the cryptocurrency Bitcoin first appeared, its value was extremely low. As its price increased, its market value also reached significant levels. Today, a cryptocurrency influencer shared a graph on their page. The shared graph compares Bitcoin’s market value with the market values of the world’s three largest banks.
Bitcoin Leads the Way
First, it shows that Bitcoin, the flagship of cryptocurrencies, has a market value of $1.37 trillion. The figure is truly striking because BTC operates outside traditional banking systems. Despite this, Bitcoin has secured an important place for itself.
In second place, we see JPMorgan Chase. The bank has a market value of $574 billion. A brief research on JPMorgan Chase shows that it offers a wide range of financial services, including investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity. However, its market value pales in comparison to Bitcoin.
Bitcoin Outpaces Others
The second bank on Crypto Cover’s list is Bank of America, with a market value of $311 billion. Bank of America is another giant in the banking sector, offering services similar to those of JPMorgan Chase. However, in terms of market value, it still falls short compared to BTC.
The third bank included in this comparison is the Industrial and Commercial Bank of China (ICBC), with a market value of $268 billion. ICBC is one of the “Big Four” banks in China and the largest bank in the world by total assets.
From this graph, I conclude one thing about Bitcoin. BTC‘s market value is larger than the combined market value of these three major banks. When the market values of JPMorgan Chase, Bank of America, and ICBC are combined, the total is $1.153 trillion. This figure is less than Bitcoin’s market value of $1.37 trillion. If you ever encounter a question about Bitcoin, you can show this tremendous value and comparisons.
