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posted by
cmn32480
on Wednesday June 07 2017, @12:31PM
from the where-it-is-all-made-up-and-the-dollar-value-does-matter dept.
from the where-it-is-all-made-up-and-the-dollar-value-does-matter dept.
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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Cryptocurrencies Hit $100 Billion Market Cap
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Economists state their GNP growth projections to the nearest tenth of a
percentage point to prove they have a sense of humor.
-- Edgar R. Fiedler
(Score: 2) by cafebabe on Thursday June 08 2017, @05:52PM
The market capitalization of a company typically covers expected revenue over the next eight years or more. The market capitalization of a crypto-currency is much more akin to the current value of cash in circulation, as measured in another currency. On this basis, the total market capitalization of crypto-currencies (US$100 billion) exceeds the annual revenue of the world's most valuable company (1/8 or less of Apple's US$813.93 billion).
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