Bitcoin Breaks Another Major Milestone In Terms Of Its Market Capitalization Against JPMorgan
Bitcoin Breaks Another Major Milestone In Terms Of Its Market Capitalization Against JPMorgan
November 25, 2020
Bitcoin Breaks Another Major Milestone In Terms Of Its Market Capitalization Against JPMorgan
Bitcoin Breaks Another Major Milestone In Terms Of Its Market Capitalization Against JPMorgan
November 25, 2020

Bitcoin (BTC) is breaking another major milestone in terms of its market capitalization against JPMorgan, the American banking giant, amidst an ongoing parabolic bull run.

It has been reported that Bitcoin surpassed the $19,000 price mark for the first time since December 2017 by breaking another all-time record in its market cap.

However, according to data from Macro Trends, JPMorgan’s market cap closed at $349 billion on November 23. Earlier this year, JPMorgan’s market cap dropped to as low as $258 billion.

Jamie Dimon, the CEO of JPMorgan, has emerged as a prominent critic of Bitcoin, calling the major cryptocurrency a “fraud” and a “scam” back in 2017.

Dimon has not changed his negative stance on BTC despite the growing bull run and major companies like PayPal moving into Bitcoin.

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At The New York Times DealBook Online Summit on November 18, Dimon compared the seminal cryptocurrency to proprietary blockchain networks with regulatory controls, stating, “Bitcoin is kind of different and it’s not my cup of tea.” 

Thus, he said:

“The potential long-term upside for Bitcoin is considerable.”

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.