Bitcoin's market cap now larger than that of Germany's largest bank, Deutsche Bank
With the extraordinary moves in price for Bitcoin and other cryptocurrencies since the beginning of the year, it was only a matter of time before their market caps began to compete with some of Wall Street's biggest companies. However with the price more than doubling in just the past 20 days alone, an interesting fact has emerged that could soon shake the entire financial industry.
Because as of May 26, the market cap of Bitcoin is now greater than that of Germany's largest financial institution Deutsche Bank.
Bitcoin’s market cap is now $2 bln higher than that of Deutsche Bank, as an upwards price correction takes it over $40 bln once more. Data uploaded to Reddit shows Deutsche Bank’s market cap at €35 bln ($39 bln) and trending downwards, while Bitcoin has mostly recovered from yesterday’s losses, CoinMarketCap shows.
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Plus, bitcoin doesn't have $75 trillion in derivative exposure!