Skip to content

Bitcoin rally pushes BTC to surpass all global banks in market cap

Bitcoin rally pushes BTC to surpass all global banks in market cap

The recent Bitcoin (BTC) rally characterized by increased buying pressure has elevated the maiden crypto to surpass leading traditional finance entities in terms of market capitalization.

Indeed, with a market cap of $443.04 billion as of January 24, BTC is valued higher than any global bank. The capitalization has placed Bitcoin as the 16th most valuable asset globally, according to CompaniesMarketCap data.

As things stand, American banking giant JPMorgan Chase (NYSE: JPM) comes close to Bitcoin with a market cap of $402.79 billion and 19th overall. Bitcoin’s valuation also ranks higher than Bank of America’s (NYSE: BAC) at $274.44 billion in the 35th position. 

Bitcoin’s market cap is higher than any bank. Source: CompaniesMarketCap

Bitcoin and banks asset class difference 

Although Bitcoin now controls a significant market cap compared to traditional finance banks, both entities belong to different asset classes. The banks’ market capitalization is backed by stocks with underlying assets. 

On the other hand, Bitcoin is not backed by any hard assets, with its price susceptible to volatility while being influenced by speculation and general market sentiment.

Overall, the latest Bitcoin milestone is a testament to proponents regarding the potential of the crypto to replace the traditional banking sector once maturity is realized.

Even as Bitcoin registered a surge in market cap, several global banks are also witnessing growth despite the global economy facing uncertainty. For instance, as per a Finbold report, European Union banks controlled assets worth €29.01 trillion during the third quarter of 2022, representing year-over-year (YoY) growth of 11.54%.

The milestone by Bitcoin follows the digital asset’s impressive 2023 run, with the flagship crypto attempting to find a bottom that would likely spark a new rally. The rally saw Bitcoin briefly surpass the market cap of electric vehicle (EV) maker Tesla (NASDAQ: TSLA) as of January 23.

However, by press time, Tesla had flipped Bitcoin in market cap, with the EV manufacturer controlling $453.92 billion. 

Bitcoin price analysis

As things stand, Bitcoin is trading at $22,881, gaining by almost 1% in the last 24 hours.

Bitcoin seven-day price chart. Source: Finbold

Currently, Bitcoin is attempting to break the $23,000 resistance level, having briefly breached the position in recent days.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts