Bitcoin News Today – Headlines for August 18

  • Bitcoin tests a new yearly high of $12,470
  • The market cap of Bitcoin is now ahead of the Bank of America and New Zealand dollar
  • The Bitcoin space sees an influx of first-time crypto investors

Bitcoin News Today – Bitcoin recently amassed bullish traction to test a new year-to-date high of $12,470. After this massive move, the market cap of Bitcoin is now greater than the fiat currency of New Zealand and the Bank of America.

Bitcoin’s Market Cap surpasses the Market Valuation of New Zealand and America Dollar

As the price of Bitcoin continues to surge higher, its market cap has surpassed the market valuation of the Bank of America. According to data from CoinMarketCap, the current market cap of Bitcoin is $226.68 billion, after an increase of more than 3 percent over the past day.

Nevertheless, the market cap of the Bank of America has plunged by over 2 percent, bringing the value to $224.4 billion. The slight decrease in the valuation of Bank of America and the bullish behavior of BTC has significantly increased the ranking of Bitcoin. Bitcoin is now ranked at the 25th most valuable asset by market cap, just slightly behind PayPal at $320 billion.

Nevertheless, Bank of America (BoA) is not the only fiat-based institution that plunged below bitcoin toady. According to data from FiatMarketCap, the current market cap of Bitcoin has now pushed it ahead of that of the New Zealand dollar.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$42,161.00-0.15%

New Investors Are Flooding the Crypto Space

This year has been pretty amazing Bitcoin and the majority of coins on the market. The price of Bitcoin has been on the rise as the Fed has pushed several controversial measures to reduce the effect of the pandemic on the economy. This has made many prominent figures in finance to consider digital currency for the first time.

Billionaire Warren Buffet has made known his feelings about digital currency, saying they have no value. However, others like Jason Williams of Morgan Creek Digital recently predicted that Berkshire Hathaway – the multinational conglomerate holding company of Buffett – could soon invest in Bitcoin.

He said that young analysts and managers at the company would decide to buy Bitcoin, even if Buffett is not aware of their actions. The founder of hedge fund Tudor Investment Corporation – Paul Tudor Jones – is also very bullish on BTC since he revealed that the digital currency was part of his portfolio in May.

Dave Portnoy – the founder of Barstool Sports – also recently made a debut in the digital currency space. He recently spoke with Cameron and Tyler Winklevoss – the founders of Gemini exchange. With the help of these brothers, he bought $50k in Chainlink and $200k in Bitcoin, some of his first digital currency purchases.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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