Bitcoin's network is now more valuable than the GDP of New Zealand
That's right, Bitcoin's market cap has just surpassed that of several countries, including New Zealand.
Bitcoin currently sports a network value of $189 billion.
https://coinmarketcap.com/currencies/bitcoin/
Zew Zealand's latest GDP figures give it a value of about $185 billion, almost $5 billion behind where bitcoin currently stands.
What's more, Bitcoin's network value is now larger than the GDPs of Qatar, Kuwait, and Hungary.
Those are countries by the way.
Some other things Bitcoin is now larger than:
Goldman Sachs
Boeing
Toyota
General Electric
14 Aircracft Carriers (Priced at $13B a piece)
Bill Gates and Warren Buffett (Combined)
The Queen of England
Ironically, Bitcoin is worth just about half of what JPMorgan is worth.
Perhaps that has something to do with why its chief officer spoke so harshly about it a few months back?!
This all sounds like Bitcoin's network value is rather large, and it is compared to companies, however, bitcoin isn't a company...
It's an asset class more akin to a currency or precious metal.
Currently, gold's total market value is estimated to be around $7 trillion. That means that bitcoin is currently worth about 2.7% of gold's total value.
Given that context, bitcoin doesn't seem quite so pricey.
Stay informed my friends.
Sources:
http://dogsofthedow.com/largest-companies-by-market-cap.htm
Image Sources:
http://www.cheapflightslab.com/return-flights-from-london-to-new-zealand-from-545gbp-630e-664usd/
https://tradingeconomics.com/new-zealand/gdp
https://financialtribune.com/articles/world-economy/65532/gold-steady-near-4-week-highs
Follow me: @jrcornel
Like gold for the internet generation!!
Bitcoin ... Like a train without brakes.
People are scared when Bitcoin will derail... We see big dumps when people want to cash their profits before the derail might happen.
@jrcornel - GREAT INFO - I absolutely love hearing numbers and statistics of Bitcoin and the Bitcoin takeover - if that info was truly filtered thru mainstream media with a few talking heads backing it inevitable continued growth it would skyrocket much more than it did in 2017 so far
I don't know the reason why people compare market-cap of BTC with market-cap of banks or states or companies. There isn't correlation between that items... anyway Bitcoin correlation with everything is zero.
the growth is not stopping, seem it will continue to grow and the market cap will increase, the future is here, cryptos and block chain
bitcoin ballon getting air again ..becoming bigger and going higher...
beautiful picture
thanks fir the information
Goldman Sachs, Boeing, Toyota, General Electric, 14 Aircracft Carriers (Priced at $13B a piece), Bill Gates and Warren Buffett (Combined) and the Queen of England. Wow that has just blown me away. Exciting times indeed! History in the making.
It's not that large compared to gold. Still in a nascent stage with a lot of potential to grow
This is a great measuring stick as far as Im concerned. Gold is about 7 trillion because investors like non inflationary investments but BTC is that and more.
Its hard to carry a mill in gold bars not so hard to carry a pen drive w a 100 BTC on it. :)
Bitcoin will eventually have a cap of 1.5 to 3 trillion itself, when the coin market cap is between 4 to 6 trillion.
And I wouldnt be surpirsed if crypto market cap was 3 trill next year.
Bitcoin is my most favourite site.i am always love bitcoin. and i am curious for bitcoin