As Bitcoin price briefly crossed the $18,000 threshold on Nov. 18, Bitcoin’s market cap surged above $336 billion, outstripping the market cap of Nvidia — one of the world’s most well-known manufacturers of graphics cards.
On Nov. 17, Nvidia’s shares closed at $330.7 billion, according to data from Macro Trends. The close follows a significant decline from a $358.7 billion threshold recorded on Nov. 2. At publishing time, Bitcoin’s market cap accounts for $336 billion, according to data from CoinMarketCap.
Nvidia’s five-year market cap chart. Source: Macro Trends
Bitcoin’s new market cap milestone against Nvidia comes amid both Bitcoin and Nvidia seeing major growth in 2020.
As reported by Cointelegraph, Bitcoin surged nearly 400% this year, skyrocketing from below $4,000 in January 2020 to over $18,000 in November. Nvidia’s market cap surged more than 100% this year,