Bitcoin could flippen PayPal on bullish news from… PayPal

Bitcoin (BTC) has risen dramatically in market cap over the years, recently taking its place among the top 25 largest companies and assets by market cap. 

At press time, Bitcoin holds a market cap near $240 billion, totaling all the speculative capital invested in the asset. The coin sits 22nd on a list of the top 100 stocks, ETFs, and cryptocurrencies by market cap, according to AssetDash, as pointed out by Reddit use FaySharp on Oct. 21. Apple holds the number one spot, standing at a $2 trillion evaluation, followed by Microsoft and Amazon respectively. 

Bitcoin yielded a bullish day of price action following news that PayPal had confirmed a timeline for bringing crypto to its platform. Bitcoin is only a single position behind PayPal, which holds the 21st spot, at time of publication.

Bitcoin climbed 13 places in its market cap ranking over the last month, a feat matched by Zoom — which has also proved to be a resilient player during the COVID-19 pandemic.

Bitcoin’s market cap is not the highest it has ever been, however. A CoinMarketCap historical snapshot from Dec. 17, 2017, the date of Bitcoin’s last all-time high, shows the asset boasting a $320.5 billion market cap at a price of $19,140 per coin.

Crypto’s pioneering asset continues to be a tremendous rags-to-riches story. Since its launch in 2009, Bitcoin has soared from pennies to thousands of dollars per coin, fighting numerous battles along the way, while igniting an entire industry around itself and its underlying technology.