Amid an ongoing parabolic bullish run, Bitcoin [BTC] is breaking another leading milestone in terms of its market capitalization against American banking giant JPMorgan.
Earlier on 24th Nov., Bitcoin surpassed the $19k price mark for the primary time since December 2017, breaking another all-time record in its market cap.
At the reporting time, Bitcoin’s market cap is $352 Bln, up from $345 Bln within 24 hours ago. As per data from Macro Trends, JPMorgan’s market cap closed at $349 Bln on 23rd Nov. Earlier this year, JPMorgan’s market cap dropped to as low as $258 Bln.
The company’s CEO Jamie Dimon has emerged as a prominent critic of Bitcoin [BTC], calling the leading cryptocurrency a “fraud” and “scam” earlier in 2017.
Dimon has not now changed his negative stance towards BTC despite the growing bullish run and leading firms like PayPal getting into BTC. At the New York Times DealBook Online Summit held earlier on 18th Nov., Dimon compared the seminal cryptocurrency to proprietary blockchain networks with regulatory controls, stating, “Bitcoin is kind of different and it’s not my cup of tea.”
Earlier in October this year, Despite its CEO’s skepticism of Bitcoin, JPMorgan reportedly told investors that “the potential long-term upside for Bitcoin is considerable,” suggesting that BTC price would be doubling or tripling within the mere future.