Bitcoin hit another record high on Tuesday, with the continuing rally bringing its market capitalization within touching distance of major stocks like Netflix.
The price of the cryptocurrency hit an all-time high of $4,483.55 in early trade on Tuesday, continuing the strong rally seen in the past couple of weeks, according to industry website CoinDesk. Bitcoin did dip, however, as low as $4,265.29 on the day.
Bitcoin’s market capitalization — the total number of coins in circulation multiplied by the price — also hit $73.5 billion when the record high was hit, Coinmarketcap data shows. This makes it the highest market capitalization yet.
If bitcoin was a stock (which it isn’t), it would be the seventy-fourth biggest by market capitalization, just behind Adobe and Netflix on the S&P 500. Adobe has a market cap of $73.6 billion while Netflix is worth $73.8 billion, putting bitcoin within touching distance of both.