Topic: [2017-10-13] Bitcoin's market value is now larger than Goldman Sachs and Morgan (Read 196 times)
October 14, 2017, 05:38:10 AM
Bitcoin is not a company, so it's not really correct to compare its marketcap with marketcaps of stocks - they have different mechanisms for price forming, so it's more correct to compare Bitcoin's marketcap with marketcaps of other similar assets - commodities and currencies, and in this case Bitcoin would look really small. Now, returning to banks from OP - they easily beat Bitcoin in other indicators - they hold billions to trillions in assets and process more transactions in both numbers and value. However, this shouldn't sound discouraging, in fact it means that people value decentralization and financial freedom extremely high.
October 14, 2017, 02:44:31 AM
If bitcoin were a stock, it’d be a top performer If bitcoin were a stock, it’d be a top performer
18 Hours Ago | 00:38
Bitcoin's market capitalization has surpassed major stocks such as Goldman Sachs and Morgan Stanley, after the cryptocurrency hit an all-time high on Friday.
The virtual currency hit a record high of $5,856.10 in the early hours of Friday morning, according to data from industry website CoinDesk. Its market capitalization, which is the total value of all the bitcoin in circulation, reached $96.7 billion, according to Coinmarketcap.com.
Of course, bitcoin is not a stock. But if it were, its market cap would surpass that of some big companies, including the following:
BHP Billiton with a market cap of $96.6 billion
Goldman Sachs with a market cap of $92.9 billion
Morgan Stanley with a market cap of $89.1 billion
Netflix with a market cap of $84.5 billion.
Bitcoin would be the 15th largest component of the Nasdaq and 58th largest by market cap on the NYSE.
Many investors see bitcoin as a commodity or currency. It also has a finite supply at 21 million bitcoin that will not be reached for several years.
The catalyst for the recent rally, which began Thursday, was speculation that China could reverse its ban on cryptocurrency exchanges.
https://www.cnbc.com/2017/10/13/bitcoin-market-cap-bigger-than-goldman-sachs-and-morgan-stanley.html
18 Hours Ago | 00:38
Bitcoin's market capitalization has surpassed major stocks such as Goldman Sachs and Morgan Stanley, after the cryptocurrency hit an all-time high on Friday.
The virtual currency hit a record high of $5,856.10 in the early hours of Friday morning, according to data from industry website CoinDesk. Its market capitalization, which is the total value of all the bitcoin in circulation, reached $96.7 billion, according to Coinmarketcap.com.
Of course, bitcoin is not a stock. But if it were, its market cap would surpass that of some big companies, including the following:
BHP Billiton with a market cap of $96.6 billion
Goldman Sachs with a market cap of $92.9 billion
Morgan Stanley with a market cap of $89.1 billion
Netflix with a market cap of $84.5 billion.
Bitcoin would be the 15th largest component of the Nasdaq and 58th largest by market cap on the NYSE.
Many investors see bitcoin as a commodity or currency. It also has a finite supply at 21 million bitcoin that will not be reached for several years.
The catalyst for the recent rally, which began Thursday, was speculation that China could reverse its ban on cryptocurrency exchanges.
https://www.cnbc.com/2017/10/13/bitcoin-market-cap-bigger-than-goldman-sachs-and-morgan-stanley.html
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