Bitcoin surpasses NZ dollar cap

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Updated September 21, 2022 | Published August 18, 2020

2 mins read

Although many predicted the fall of bitcoin and its disappearance, the currency has continued to soar and attract new stakeholders – despite its challenge with scalability and uncertainty regarding its price.

Yet, AssetDash data has revealed that Bitcoin is now worth $226 billion, which surpasses Bank of America’s $224.4 billion. Bitcoin is also trying to catch up to PayPal, which is valued at $230 billion currently.

Many banks have fallen behind bitcoin in terms of market capitalisation, signaling to the strength of the cryptocurrency, and cryptocurrencies in general. Meanwhile, the New Zealand dollar was also out priced by bitcoin, which reached a significant recent high this year, posting a value of $12,470.

Not least, bitcoin has been growing because the Federal Reserve has loosened up some restrictive measures, allowing the economy to ride through the pandemic a little more freely. The move has been good for cryptocurrencies as well.

Even though prominent financiers such as Warren Buffett have called cryptocurrencies a fraud, people have kept buying and mining BTC, boosting its value in the process, although not necessarily because of their participation.

With BTC having proven so resilient, we asked the question if a Bitcoin ETF is on the horizon. While there is speculation about that, the best Bitcoin casinos continue to be a perpetual source of entertainment.

That is important. Bitcoin has proven resilient in time, not only because it’s styled as an investment vessel, but also because it has been adopted in many industries. Blockchain, the underpinning technology of BTC, has also come handy in establishing safer, quicker and more reliable overall services across the business world.

Whether crypto casinos see more success due to bitcoin price rises remains to be seen, but it’s fair to say that any operator with an interest in crypto gambling will be pleased to see its sustained rise. The likes of Bitcasino.io and TrueFlip have benefited from growing awareness and continue to give their players a rewarding experience for their bitcoin staking.

Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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