Bitcoin Prices Soared This Year, Surpassing the Combined Market Value of the Top Four Global Banks
Bitcoin has experienced a significant increase in price this year, with its current market value surpassing $1.36 trillion as it returned to $69,000 today. This market value exceeds the combined market value of the top four global banks, which is $1.3 trillion. At the same time, the market value of Ethereum has also surpassed that of Bank of America, making it the second-largest bank in terms of global market value.
Bitcoin had a poor start in April, declining from $71,000 at the beginning of the month. It reached a low point of $64,494 on the 3rd, but has rebounded in recent days. Today, it broke through the $69,000 mark and was trading at $69,407 at the time of writing, with a 24-hour increase of 2.4%.
According to data from Companiesmarketcap, with the recovery of Bitcoin, its market value has reached $1.368 trillion, surpassing the combined market value of JPMorgan Chase, Bank of America, ICBC, and Wells Fargo, the top four global banks. The combined market value of these four banks is $1.3 trillion, with JPMorgan Chase valued at $568.72 billion, Bank of America at $292.82 billion, ICBC at $244.06 billion, and Wells Fargo at $203.21 billion.
Furthermore, after the price of Ethereum rose to $3,388, its market value reached $407.29 billion. In comparison with the market value of banks, it has surpassed Bank of America, the second-largest bank in terms of global market value, only lagging behind JPMorgan Chase.
It is worth noting that the Bitcoin spot ETF, which was approved for listing in January this year, has been a major contributor to the rising Bitcoin prices. According to IntoTheBlock data, since the launch of the Bitcoin spot ETF, whale reserves holding over 1,000 Bitcoins have increased by 220,000 Bitcoins, worth $14.2 billion. Among these, 210,000 Bitcoins came from ETF inflows, indicating strong institutional recognition of Bitcoin.
The next Bitcoin halving is expected to occur in April this year, and it is widely expected to further drive up the price of Bitcoin.