Bitcoin’s market cap has reached a new “milestone” -- surpassing investment bank JPMorgan Chase’s market cap on Nov. 23 with a market cap of $356.6 billion. 

• Bitcoin’s recent rally, which has put it tantalizingly close to its all-time high, has the asset’s price at roughly $19,000
• At the time of publishing, Bitcoin’s market cap is approximately $356.5 billion -- JP Morgan’s market cap is $351.2 billion
• Bitcoin’s price has been buoyed by many positive developments in the last few months, including support from PayPal and the arrival of more institutional funds
• The futures and options data for both Bitcoin and Ethreum also suggest that there might be more fuel in the rally, with investors’ positions expecting a price rise in Dec.
• The bank’s CEO Jamie Dimon has previously called Bitcoin a “fraud” and last week made less directly critical remarks by saying that “Bitcoin was not his cup of tea”
• However, analysts from JPMorgan recently said that Bitcoin “could easily double or triple in value” -- a sharp turn from its once highly critical position on the asset