The bitcoin rate has taken the bar at $ 25,000 – the total cost of the cryptocurrency is already more than the capitalization of Visa

Today, according to Yahoo Finance, financial services giant Visa is valued at $ 460.06 billion. And as of December 26, Bitcoin is confidently hovering above $ 462 billion. Of course, Bitcoin is essentially a peer-to-peer software protocol, and Visa is a non-profit corporation. Some might argue that a direct comparison between them is inappropriate because they are fundamentally different, and this is true.

However, the very fact that Bitcoin outperforms such a common payment system as Visa is very symbolic. By the way, if we continue analogies, then the current market capitalization puts cryptocurrency in 13th place among the most expensive companies in the world.

Meanwhile, institutional interest in bitcoin has grown throughout 2020. And now that the cryptocurrency has surpassed Visa’s market capitalization, its credibility could further increase among organizations. Visa has also shown more enthusiasm for crypto in recent months after Square and PayPal backed Bitcoin.

For example, Wirex, the issuer of Visa debit cryptocurrency cards, has become a major Visa member in Europe. Buy Sheffield, Senior Director and Head of Cryptocurrencies Visa said, “Digital currencies can add value to digital payments for more people and places. We are excited to work with pioneering financial and technical companies like Wirex to bring digital currency to their customers with over 61 million merchants on the Visa network. ”