Bitcoin is the fastest asset to hit 1 trillion marketcap - page 4.

Sithara007

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Quote from: jossiel on May 28, 2021, 06:42:31 PM

Despite the big drop, bitcoin has now $667B in its market cap. But nevertheless, it's still one of the quickest and best asset that we've got in our time.

People who have been looking to the recent drop of bitcoin and starts to speculate negatively about it, don't really look from where bitcoin started and how it had conquered all of those negative and bearish days.

Those who complain so much about the crash are forgetting the fact that market cap stood at $150 billion a year ago. For the long term health of the cryptocurrency market, this correction was sort of necessary. Also, a lot of non-serious users, who believe that Bitcoin is a magic wand that can make them millionaires overnight will make their exit. These will be beneficial for the market in the long term. Anyway, for users like me, these short term fluctuations doesn't matter. Because we believe in HODL!

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Quote from: jossiel on May 28, 2021, 06:42:31 PM

Despite the big drop, bitcoin has now $667B in its market cap. But nevertheless, it's still one of the quickest and best asset that we've got in our time.

681billion dollars as I'm typing now.

this is almost Half of the ATH capitalization last month.

Sounds low but still too far high from the value in 2020 end year.

Quote

People who have been looking to the recent drop of bitcoin and starts to speculate negatively about it, don't really look from where bitcoin started and how it had conquered all of those negative and bearish days.

Negative thinking are always there because that's what we Positive thinkers wanted to happen , they Sell we buy that's the scenario and will always be for the market showing its Health and valuable to invest.

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Despite the big drop, bitcoin has now $667B in its market cap. But nevertheless, it's still one of the quickest and best asset that we've got in our time.

People who have been looking to the recent drop of bitcoin and starts to speculate negatively about it, don't really look from where bitcoin started and how it had conquered all of those negative and bearish days.

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Quote from: nightrider on May 28, 2021, 06:37:19 PM

Right. Bitcoin was the fastest asset to hit $1 trillion, after it came out in 2009. Total bitcoin transactions now total over $1 trillion.
That's because the bitcoin price hit a new all-time high on Friday. One bitcoin currently costs around $55,000 — and there are about 18.6 million bitcoins in circulation according to Coinbase. (The total number of final bitcoins available is capped at 21 million.)

I think you are not checking the current market price of bitcoin, currently, it is now at $35k range not $55k. But anyhow, it took about a decade for bitcoin to achieve this trillion market cap in the market. Not many companies can have this kind of feat in a decade. Most of them are attaining this level in more than a decade of existence. However, the difference is that, bitcoin can be used in all parts of the world by all kinds of users. So maybe, this is the reason why it achieved this level relatively faster than most top companies. There are no borders in using this cryptocurrency.

nightrider

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Right. Bitcoin was the fastest asset to hit $1 trillion, after it came out in 2009. Total bitcoin transactions now total over $1 trillion.
That's because the bitcoin price hit a new all-time high on Friday. One bitcoin currently costs around $55,000 — and there are about 18.6 million bitcoins in circulation according to Coinbase. (The total number of final bitcoins available is capped at 21 million.)

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Quote from: bitmover on May 23, 2021, 06:09:10 PM

Sharing another interesting infographic from visualcapitalist.com

https://www.visualcapitalist.com/bitcoin-is-the-fastest-asset-to-reach-a-1-trillion-market-cap/

as we can see from the data above, Microsoft took 44 years to reach 1 trillion market cap, while Bitcoin took only 12 years!

Unfortunately, Bitcoin could not sustain such prices for long, and now the total market cap is about 650 billion USD. ( 1 trillion marketcap is about 56K USD)
Anyway, that is an impressive milestone for Bitcoin!

There were times that people celebrated Bitcoin reaching $1 billion, but this time around you can’t talk about Bitcoin going back to $1 billion market cap because it has passed that level and won’t be going back to that level again. So, this same way that it has reached $1 trillion and dropped back, one day we are going to pass that level once and for all and the market cap won’t drop below that level again, but would rather continue from there and keep on growing really big.

Bitcoin is the way to financial freedom and everyday a lot of people are getting to realize that that’s what it is and they are getting on the train everyday, the community never stops growing.

Sithara007

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Quote from: mamahdedeh on May 27, 2021, 10:46:41 PM

right, we look at the long term, and hope that it will provide prosperity in our old age. we have to open the mind that investing in bitcoin will certainly have a good impact going forward. by looking at the way of thinking of the company that has been successful, we should be able to imitate it for ourselves

As long as the basic indicators are in green, we don't have to worry much about the future of Bitcoin. Ever since the first coins were mined in 2009, the userbase has been growing at a steady pace. Along with it, the adoption and acceptability are also increasing. There may be temporary setbacks due to governmental actions (such as the recent curbs in China) and other incidents, but as long as these parameters remain in a positive direction, we don't need to worry much about the future viability of BTC.

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Quote from: Vishnu.Reang on May 27, 2021, 02:43:50 AM

Quote from: Kittygalore on May 27, 2021, 12:32:39 AM

Even if it isn't the exact data, it is still rings some true to it that bitcoin really did get to the trillion dollar marketcap really fast compared to other big tech companies. It is impressive how fast bitcoin got to that point but we have to always consider that it could go sideways, look at what happened this past few weeks, billions were wiped out in a matter of days.

Even if it is 14 or 16 years instead of 12 years, what Bitcoin has achieved is impressive. Google was the fastest to achieve a market cap of $1 trillion. And in case of Google, the company was founded in 1998 and within two and half decades the one trillion USD market cap was achieved. And Bitcoin was able to achieve it in almost half of that duration. And this is also one of the reasons why we should hold the coins for the long term. Look at the other companies in that list - GOOGL, MSFT, AAPL and AMZN. All of these stocks have retuned excellent returns to those who are still holding these stocks.

right, we look at the long term, and hope that it will provide prosperity in our old age. we have to open the mind that investing in bitcoin will certainly have a good impact going forward. by looking at the way of thinking of the company that has been successful, we should be able to imitate it for ourselves

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This is not too surprising for me as I have known Bitcoin to be a great asset anyone could ever own. The drop we saw now is just a feature we all know that this coin possesses and we are sure that it is going to reach and even surpass the point of this I trillion marketcap that we see then.

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True in absolute terms at least on recorded history. We need to take into account that numbers are different across different periods of history, but if you want to think only of the last few decades, it is right. It was something that was waiting for a brilliant mind and a supporting community to be created. I guess that, like may inventions in history, it was just waiting its turn to be created and when it did, it boosted spectacularly.
Perhaps one of the main reasons is that all the enabling technologies and factors were already there and that it is very "asset light" in stock terms - that is, you do not need to build a factory to create bitcoin and you do not need to own land to have bitcoin, hence, the barriers for this are superlow. This is also confirmed by the myriads of alts.

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Quote from: Vishnu.Reang on May 27, 2021, 02:43:50 AM

Quote from: Kittygalore on May 27, 2021, 12:32:39 AM

~

Even if it is 14 or 16 years instead of 12 years, what Bitcoin has achieved is impressive. Google was the fastest to achieve a market cap of $1 trillion. And in case of Google, the company was founded in 1998 and within two and half decades the one trillion USD market cap was achieved. And Bitcoin was able to achieve it in almost half of that duration. And this is also one of the reasons why we should hold the coins for the long term. Look at the other companies in that list - GOOGL, MSFT, AAPL and AMZN. All of these stocks have retuned excellent returns to those who are still holding these stocks.

That's what I am doing, the problem is that the waves made by the market can sometimes shake our faith about the long-term stability of bitcoin market. Bitcoin is different from these stocks because they are companies that have people managing them unlike bitcoin which could crash and burn anytime.

Vishnu.Reang

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Quote from: Kittygalore on May 27, 2021, 12:32:39 AM

Even if it isn't the exact data, it is still rings some true to it that bitcoin really did get to the trillion dollar marketcap really fast compared to other big tech companies. It is impressive how fast bitcoin got to that point but we have to always consider that it could go sideways, look at what happened this past few weeks, billions were wiped out in a matter of days.

Even if it is 14 or 16 years instead of 12 years, what Bitcoin has achieved is impressive. Google was the fastest to achieve a market cap of $1 trillion. And in case of Google, the company was founded in 1998 and within two and half decades the one trillion USD market cap was achieved. And Bitcoin was able to achieve it in almost half of that duration. And this is also one of the reasons why we should hold the coins for the long term. Look at the other companies in that list - GOOGL, MSFT, AAPL and AMZN. All of these stocks have retuned excellent returns to those who are still holding these stocks.

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Quote from: Sithara007 on May 26, 2021, 11:04:35 PM

I am not comfortable with the calculation being done here. First of all we need to be honest, and there is no point in manipulating the data. Here the OP has taken the number of years from the foundation of these companies (and not from the IPO). But the comparison is made after the calculation for Bitcoin is done from the date where the first coins were mined. Both are not directly comparable. If you want to take the 2009 date for Bitcoin (because the first coins were mined in 2009), then you need to take the IPO date for these stocks. The Google IPO happened in mid-2004, which is less than 17 years ago (although Google was founded in 1998).

Even if it isn't the exact data, it is still rings some true to it that bitcoin really did get to the trillion dollar marketcap really fast compared to other big tech companies. It is impressive how fast bitcoin got to that point but we have to always consider that it could go sideways, look at what happened this past few weeks, billions were wiped out in a matter of days.

Sithara007

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I am not comfortable with the calculation being done here. First of all we need to be honest, and there is no point in manipulating the data. Here the OP has taken the number of years from the foundation of these companies (and not from the IPO). But the comparison is made after the calculation for Bitcoin is done from the date where the first coins were mined. Both are not directly comparable. If you want to take the 2009 date for Bitcoin (because the first coins were mined in 2009), then you need to take the IPO date for these stocks. The Google IPO happened in mid-2004, which is less than 17 years ago (although Google was founded in 1998).

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Quote from: bryant.coleman on May 25, 2021, 01:41:28 AM

The huge market cap is one of the disadvantages now. Many of the noobs are choosing to invest in newer shitcoins with smaller market cap, because they believe that Bitcoin is already having a market cap of close to $1 trillion and therefore any appreciation in the prices will be more muted. The sort of returns that the early investors received from Bitcoin can't be expected by the recent investors. And that is true with any asset, and not just Bitcoin or other cryptocurrencies.

I feel like that is a noob approach towards what we are doing here. I mean bitcoin was not created so that you could make 100x profit, some people did that it is true but that doesn't mean that we should be aiming for it we just have it without working for it because it is a by-product, when everyone goes into bitcoin obviously price goes up and that's it.

Bitcoin is like gold and it is a store of value the idea is to have a thing that is much better compared to fiat and also something that can still be spent like fiat, it is like a digital gold and that's the important part for all of us. I can't say that we are not there yet, but some people are totally forgetting what the purpose was and that is why they are going towards shitcoins.

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Quote from: bitmover on May 23, 2021, 06:09:10 PM

Sharing another interesting infographic from visualcapitalist.com

https://www.visualcapitalist.com/bitcoin-is-the-fastest-asset-to-reach-a-1-trillion-market-cap/

as we can see from the data above, Microsoft took 44 years to reach 1 trillion market cap, while Bitcoin took only 12 years!

Unfortunately, Bitcoin could not sustain such prices for long, and now the total market cap is about 650 billion USD. ( 1 trillion marketcap is about 56K USD)
Anyway, that is an impressive milestone for Bitcoin!

Yes it was the fastest assest to reach $1 trillion market cap in period of just 12 years while other major companies doesn't stand close to it.But what another major fact which makes this data more interesting is that it is still not mainstream,not accepted by all and have 1-2% global percentage using Bitcoin but still this has been achieved which really surprised me.So imagine about the time when it will be accepted by all and it will stand on top with highest market cap.This was possible with all the support and fight against FUD's from real btc supporter's.Soon to the moon.

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Quote from: Reid on May 24, 2021, 11:18:35 PM

Thank you for sharing.
Indeed that's impressive for Bitcoin to reach such a milestone at a fast pace.

Yet, we could still see scattered FUD's all around the internet space.
Then, those who don't look at history first and bought at an expensive price. Too jealous with early adopters without even thinking how much risk and patience they endured holding and avoiding the urge to sell at price pumps. Thumbs up to them.

FUDs are here to stay and the only thing that we can do is ignore and move on, it will eventually fizzle out of existence and they will have to find another way to spread FUD again. Considering how fast the prices go up we have to be wary too that the prices could go down really fast too.

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Quote from: bitmover on May 23, 2021, 06:09:10 PM

Sharing another interesting infographic from visualcapitalist.com

https://www.visualcapitalist.com/bitcoin-is-the-fastest-asset-to-reach-a-1-trillion-market-cap/

as we can see from the data above, Microsoft took 44 years to reach 1 trillion market cap, while Bitcoin took only 12 years!

Unfortunately, Bitcoin could not sustain such prices for long, and now the total market cap is about 650 billion USD. ( 1 trillion marketcap is about 56K USD)
Anyway, that is an impressive milestone for Bitcoin!

No matter what the current status of bitcoin is, just by seeing how far and how great the achievement it has made it is already something that we should be proud of. Bitcoin started in a scratch and a lot of people doubted its capability and look where it got them. They are all regretting that they didn't invest in bitcoin when the price was still low considering the fact that they've known it on the earliest days where the price was so low. Bitcoin has grown a lot ever since and most of the altcoins considers it as a foundation on their price growth.

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Quote from: wxa7115 on May 24, 2021, 12:40:26 PM

That is impressive but with all fairness to those companies reaching one trillion dollars is way easier now than what it was decades ago, after all a great deal of money was printed last year and this has been true during the last decade as well.

I think a more fair way to compare assets is if we use the average yearly rate of growth of each asset, if bitcoin still comes up as the first place in that kind of graphic then this will be a better way to measure the exceptional growth of bitcoin over other assets.

The huge market cap is one of the disadvantages now. Many of the noobs are choosing to invest in newer shitcoins with smaller market cap, because they believe that Bitcoin is already having a market cap of close to $1 trillion and therefore any appreciation in the prices will be more muted. The sort of returns that the early investors received from Bitcoin can't be expected by the recent investors. And that is true with any asset, and not just Bitcoin or other cryptocurrencies.

Reid

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Thank you for sharing.
Indeed that's impressive for Bitcoin to reach such a milestone at a fast pace.

Yet, we could still see scattered FUD's all around the internet space.
Then, those who don't look at history first and bought at an expensive price. Too jealous with early adopters without even thinking how much risk and patience they endured holding and avoiding the urge to sell at price pumps. Thumbs up to them.

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