Bitcoin’s market valuation briefly surpassed that of JPMorgan, the world’s largest bank, earlier today, on December 8.
Since 1997, for more than 20 years, the technology sector and so-called “analysts” have described Amazon, the $474 billion electronic commerce and cloud computing company, as a bubble. Analysts in the finance sector have treated Bitcoin in a similar way, since its launch in 2009.
— Brent Beshore (@BrentBeshore) October 18, 2017
On October 13, the market cap of Bitcoin surpassed that of Goldman Sachs after a meteoric rise in the past three days. With a market cap of $95 billion, Bitcoin surpassed Goldman Sachs by more than $3 billion.
Goldman Sachs, the second largest investment bank in the world, has sustained a market cap of $92 billion throughout the past 12 months but has struggled to demonstrate an increase in growth in terms of market cap.