Hey folks.
Strategy advisor at Tether, Gabor Gurbacs has underscored the supremacy of the leading crypto Bitcoin over major banks. Bitcoin stands above the top four leading banks in the world combined with an overwhelming market cap exceeding $1.3 trillion.
Surpassing the banking giants like JPMorgan Chase, Wells Fargo, Bank of America, Bank of China, ICBC, Agriculture Bank of China, and China Construction Bank, the market cap of Bitcoin is 2.4 times larger than that of JPMorgan Chase alone. This achievement shows how important decentralized digital currencies are becoming to the world economy.
The narrative surrounding the success of Bitcoin is challenged by Gurbacs, questioning why journalists focus on its shortcomings but ignore its successes.
I don’t want to hear from journalist again that Bitcoin failed if they don’t say simultaneously the same about banks. How can it be even a discussion when #Bitcoin mcap exceeds the top 4 largest banks in the world, COMBINED?
— Gabor Gurbacs (@gaborgurbacs) April 6, 2024
Gurbacs while noting the success of cryptocurrency that challenges the traditional banking narrative, emphasized the importance of this milestone. He asked why, given that its market capitalization exceeds that of the top four banks put together, Bitcoin's tenacity is not being contrasted with the supposed shortcomings of the banking system.
The market cap of the Bitcoin market remarkably places it among the ranks of tech giants like Meta (formerly known as Facebook) and Amazon, displaying its relevance and influence in the digital age.
The expert also emphasizes how important it is that institutions acknowledge the importance of Bitcoin. He asserted that considering the powerful influence of Bitcoin in the financial landscape, it is no longer acceptable to act ignorantly or disrespectfully toward it.
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