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Cryptocurrencies Hit $100 Billion Market Cap

posted by cmn32480 on Wednesday June 07 2017, @12:31PM   Printer-friendly
from the where-it-is-all-made-up-and-the-dollar-value-does-matter dept.

n1 writes:

Cryptocurrencies, as a whole, now hold over $100 billion in market cap for the first time. While bitcoin (BTC) leads the pack at just over $46.6 billion, or 47.9 percent of all cryptocurrencies, the recent surge in these other coins has helped to push the total cap over the top.

Since the Bitfinex hack low on August 2, bitcoin has traded better than JP Morgan, Goldman Sachs, Tesla, Apple, Google and gold. One of the few stocks to match the frenetic pace of bitcoin has been Nvidia, which is up over 200 percent since July of last year.

[...] Although China, Japan and South Korea are trading at a ~$100-plus premium compared to the exchanges in the United States, most of the volume [on June 5th] has been driven by USD.

Source: Bitcoin Magazine

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  • (Score: 0) by Anonymous Coward on Wednesday June 07 2017, @02:21PM

    by Anonymous Coward on Wednesday June 07 2017, @02:21PM (#521910)

    It sounds like you're just taking another word and making "intrinsic" a synonym for it, and then writing a tautology with these two words.

    More to the point, I have no idea what you mean by "static"; in this context, it's another stupid word—something is only static in the context of certain parameters—it's not clear that the constants in physics are actually constant, but they may change so slowly that they are constant for all practical human purposes.

    Extrapolate.