These days, Bitcoin (BTC) is once again on everybody’s minds, after a month-long November rally that ended with the world’s most popular cryptocurrency reaching a new all-time high of $19,881.56 on November 30. While these figures are eye-popping in their own right, Bitcoin’s total market capitalization may be an even more impressive statistic.
Since 2015, Bitcoin’s total market cap has grown by over 8100%–from 4.3 billion in January 2015 to over $350 billion today–as more coins steadily enter circulation. This puts Bitcoin above several well-known large-cap stocks, from Nvidia (NVDA) and Uber (UBER) to Mastercard (MA) and the Walt Disney Company (THE). In fact, BTC is fast catching up to JP Morgan Chase (JPM), with its $372.9 billion total market cap.
The fast growth of Bitcoin’s overall value bodes well for hodlers and traders who have been steadily buying Bitcoin (BTC) over the years. Bitcoin is on more people’s minds than ever before, but interest from mainstream audiences is still comparatively low.
As the charts above reveal, interest in Bitcoin spiked in 2017, mirroring BTC’s prices. Since then, Bitcoin’s price and general interest has decoupled, suggesting that we’re still a long way from BTC reaching its full potential.
Compare this to other popular cryptocurrencies like Ethereum (ETH) and XRP, and the story remains similar. Ethereum debuted at the end of July 2015, and grew its total market cap to $65.5 billion at the time of writing, a remarkable feat in under 6 years. XRP’s market cap, meanwhile, peaked at over $29 billion by the end of November.
Despite this growth, the 3 top largest cryptocurrencies are still dwarfed by tech giants like Apple (AAPL), Amazon (AMZN) and Google (GOOGL), which are each valued at over $1 trillion. Apple in particular has broken the $2 trillion market cap earlier this year, before pulling back last month to a still-eye-watering $1.96 trillion figure. As of writing, Apple’s market cap is back over the $2 trillion mark.
Click the thumbnail below to watch BTC, ETH, and XRP’s growth in total market cap since 2015 compared to AMZN, AAPL, and GOOGL.
Note the relative size of the top cryptocurrencies versus the tech giants. It’s not hard to imagine the additional headroom that cryptocurrencies have to grow. Though this is just speculation, if past growth is any indication, cryptocurrencies may still be undervalued as financial assets.