From the moment PayPal announced the integration of Bitcoin (BTC) into its platform, The market capitalization of the crypto asset exceeded that of PayPal. Ironic?
At the time of this writing Bitcoin has a market cap of $ 239,877,416,968, making it top of the list of AssetDash’s largest stocks, ETFs, and crypto-assets recently. Bitcoin is now at number 21 on the list PayPal just under $ 238,578,822,000.
Whenever a company, asset, or other company outperforms a rival in valuation, The crypto room vaguely refers to the event as “flippening,” which is nothing more than exceeding market capitalization. In 2017 A number of people speculated about a possible “flippening” of Ethereum (ETH), in which the market capitalization of ETH would increase more than that of BTC. Until the time of publication No crypto asset has ever surpassed Bitcoin’s market capitalization.
October 21st PayPal confirmed rumors that Bitcoin, Ethereum, Bitcoin Cash (BCH) and Litecoin (LTC) will be added to the list of payment options in 2021. When used for transactions are assets They are automatically converted to fiat money on the merchant site.
Bitcoin saw excellent price development after the news. This apparently acted as a catalyst to push the asset price even higher after a few days. In the past 48 hours, the price of BTC has increased by over $ 1,000.