Bitcoin could flippen PayPal on bullish news from... PayPal

Bitcoin has risen dramatically in market capitalization over the years, recently taking its place among the top 25 largest companies and assets by market cap. 

At press time, Bitcoin (BTC) holds a market value near $240 billion. The coin is 22nd on a list of the top 100 stocks, exchange-traded funds and cryptocurrencies by market capitalization, according to AssetDash. Apple holds the number-one spot, standing at a $2 trillion evaluation, followed by Microsoft and Amazon, respectively. 

Bitcoin had a bullish day of price action following significant news from the payments processing network PayPal. At the time of publication, Bitcoin is only a single position behind PayPal, which holds the 21st spot.

Bitcoin's market cap is not the highest it has ever been, however. A CoinMarketCap historical snapshot from Dec. 17, 2017 — the date of Bitcoin's last all-time high — shows the asset boasting a $320.5 billion market cap at a price of $19,140 per coin.

Crypto's pioneering asset continues to be a tremendous rags-to-riches story. Since its launch in 2009, Bitcoin has soared from pennies to thousands of dollars per coin, fighting numerous battles along the way, while igniting an entire industry around itself and its underlying technology.