Bitcoin (BTC) Finally Flips VISA Hitting $500 Billion Market Cap and New ATH, Next Target Berkshire Hathaway

Bhushan Akolkar
December 27, 2020
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This holiday season couldn’t have been any better for Bitcoin investors! The crypto king Bitcoin (BTC) has emerged as an unstoppable force as it hits a new all-time high approaching $27,000 levels. At press time, Bitcoin is trading $26,705 with a market cap of $496 billion.

At the current price, BTC also extends its crypto market dominance to 70% for the first time since 2017. An hour back, BTC hit its new all-time high of $26,878 hitting a market cap of $500 billion aka half-a-trillion dollars. Finally, after a lot of FUD on Saturday, Bitcoin (BTC) has surpassed the VISA’s market cap today.

Over the last few months, BTC has flipped the valuations of several big giants including JPMorgan, PayPal, MasterCard and others. BTC has forced every big giant and institutional players who once doubted BTC’s ability to be a formidable force in the financial market.

The next target for Bitcoin (BTC) is now Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A). Bitcoin seems to have proven the Oracle of Omaha and legendary investor Warren Buffett. The investor had once called Bitcoin “rat poison squared”. Back in 2018 during an interview with CNBC, Mr. Buffett said:

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.”

As per PlanB, the popular author of the Stock-to-Flow (S2F) model, BTC has already passed the model value of S2F. Remember, PlanB has predicted that BTC could hit $100,000 levels by the end of 2021.

Bitcoin bulls in the market have already started making predictions. Probably, it’s even possible that we might never see BTC below $25,000 says Peter McCormack.

With every new ATH, Bitcoin enters a price discovery mode i.e. regions where it hasn’t traded anytime before.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.