Bitcoin Now More Valued Than Bank of America and New Zealand Dollar

Bitcoin’s market cap was seen higher than that of Bank of America and NZ Dollar when it reached a new ATH of $12,470 for the year 2020.

The market cap of Bitcoin saw a significant increase because so many people invested in it for the first time. It is now more than what the Bank of America has as its market cap.

AssetDash just revealed that the market cap of Bitcoin is a above $226 billion. This represents a 3.2% increase in the last 24 hours. On the other hand, the Bank of America depreciated in value today by over 2% to settle at $224.4 billion. With this recent performance, BTC happens to be the 25th most important asset as it trails behind PayPal by just $4 billion.

By the way, Bitcoin’s market cap rose above other fiat currencies as its new ATH reached $12,470.  According to FiatMarketCap, the cryptocurrency was also seen to be valued above New Zealand Dollar.

New investors going into crypto

The price of Bitcoin has increased so much this year. One of the reasons is that some regulatory measures imposed by the Federal Reserve were removed so people decided to invest so much in the cryptocurrency for the first time.

Although Warren Buffet had previously said that Bitcoin was nothing, other economists such as Jason Williams of Morgan Creek Digital say it’s just a matter of time and Buffet will buy some Bitcoins. Williams said even if Buffet doesn’t do so by himself, his managers will soon be in a position to invest some money in Bitcoin.

Buffet is not the only person who is likely going to invest in the cryptocurrency soon. Paul Tudor Jones, the man who owns Tudor Investment Corporation still considers buying more Bitcoins even though he bought so much of it three months ago in an attempt to avoid the effect of inflation.

Another person that is expected to join the league of new Bitcoin investors is Dave Portnoy, the founder of Barstool Sports. Few days ago, Portnoy had a meeting with the founders of Gemini exchange. Portnoy invited the twins to help him understand how to invest in Bitcoin  and at the spot, he purchased Bitcoins worth $200,000 and Chainlink (LINK) worth $50,000.

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