Summary:
- Binance CEO, CZ, has pointed out that Ethereum’s market cap is bigger than that of Spotify, GM, Baidu, Ferrari and BMW
- The market cap of BNB is considerably smaller but bigger than Xerox
- Bitcoin’s market cap recently exceeded that of Visa
- Ethereum and BNB are two digital assets to watch moving forward due to smart contracts and Defi
The CEO of Binance, Changpeng Zhao, has pointed out that Ethereum’s current market cap at $73 Billion is bigger than that of well-known companies such as Spotify, GM, Baidu, Ferrari and BMW. He also added that the market cap of Binance Coin (BNB) is considerably smaller than that of Ethereum but larger than that of Xerox.
CZ’s exact comment was as follows.
#ETH‘s market cap is bigger than Spotify, GM, Baidu, Ferrari, BMW, etc.
#BNB‘s market cap, while still small, is bigger than Xerox’s, the inventor of the modern GUI, lol…
Industries shift.
For comparison purposes, the companies mentioned by CZ have the following market capitalizations according to Google.
- Spotify – $61.61 Billion
- General Motors (GM) – $59.51 Billion
- Baidu – $65.04 Billion
- Ferrari – $36.28 Billion
- BMW – $47.18 Billion
- Xerox – $4.48 Billion
Ethereum and Binance Coin (BNB) have a Bright Future
As highlighted by CZ, both Ethereum and Binance Coin (BNB) have a bright future based on the potential of ETH 2.0 and the Binance Smart Chain. Furthermore, DeFi is continually gaining acceptance as an alternative form of investing. Each of these networks will eventually be home to many of the DeFi protocols thus increasing the value of their respective native digital assets.
Bitcoin’s Market Cap Exceeds Visa
CZ’s comments on the market cap of Ethereum being greater than Spotify, General Motors, Baidu, Ferrari and BMW, comes after Bitcoin surpassed Visa in terms of market capitalization. Bitcoin’s current market capitalization is $507 Billion which is $0.507 Trillion.
Bitcoin could soon have a market cap greater than Visa and Mastercard combined. Bitcoin’s market cap needs to exceed $822.76 billion based on the current market capitalization of the two companies as highlighted below.
- Visa – $487.79 Billion
- Mastercard – $334.97 Billion
For Bitcoin to achieve such a feat, its price will have to exceed $44,300 in the near future. Such a feat is possible in 2021 with Bitcoin hitting $50k or higher in the months to follow.