On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
The largest cryptocurrency also recently beat the world's three biggest banks by market cap, data confirms.
Bitcoin (BTC) did more than hit $60,000 per coin last week — it also became worth more than the world’s three biggest banks combined.
According to publicly available data, the largest cryptocurrency surpassed the three highest-valued global banking giants by market capItalization.
Bitcoin market cap blasts past financial stalwarts
At its all-time highs of $61,700, Bitcoin’s market cap was roughly $1.15 trillion. The combined market cap of JPMorgan, Bank of America and The Industrial and Commercial Bank of China (ICBC) is $1.08 trillion.
The achievements do not stop there — Visa and Mastercard, the biggest payment networks, have a combined market cap of $871 billion, also now significantly less than Bitcoin.
Since then, BTC/USD has seen a slight pullback, bringing its market cap down to $1.03 trillion, still holding the significant trillion-dollar-asset title.
That level was previously tipped by analysts as a likely consolidation zone, something which remains the case after Monday’s dip took Bitcoin back below its previous all-time high set in late February.
Its ascent, others have noted, is impressive — Bitcoin went from zero to $1 trillion in network value 3.6 times faster than Microsoft, for example.
Hot on gold's heels
Analyzing the market cap data, on-chain analytics resource Ecoinometrics added that as of March 13, Bitcoin equalled 45% of the gold held in investment vehicles and 10% of the physical gold market as a whole.
To eclipse gold entirely — something which is already a topic of debate among market participants — BTC/USD would need to trade at $590,000.
As Cointelegraph reported, meanwhile, both Visa and Mastercard are coming to terms with the need to incorporate Bitcoin in their corporate strategies going forward.
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