The Bitcoin Market Cap Reaching Close To 100 Billion USD
Posted By : Anirudh Bhardwaj | 17-Oct-2017
Bitcoin has taken the whole world by storm. With its price going as high as $6000 at some exchanges, the latter has reached a whopping market capitalization of $94 billion. Over the past few months, Bitcoin has shown an exceptional growth in terms of price and market cap. As it turns out, the existing market cap of Bitcoin is worth more than some of the world’s most reputed brands. Besides, if we talk about the cryptocurrency landscape, Bitcoin’s market cap accounts for more than half the market cap of the entire cryptocurrency market. Other leading players are Ether, Litecoin, Ripple and Bitcoin Cash.
You may also like The Impact of ICO Ban In China On Bitcoin Price.
The Journey So Far
Not long ago, the market cap of the entire cryptocurrency sphere was below the $100 billion mark. This fact alone is enough to describe how powerful the growth shown by Bitcoin is! In 2017, Bitcoin has shown a growth of over 600% in terms of market cap. With this, Bitcoin has made an entry to the list of top 100 companies worldwide with the highest market cap. As revealed by Pricewaterhouse Coopers, if Bitcoin is compared with the top 100 companies in terms of market cap, it ranks at 81, just three places behind Goldman Sachs.
As surprising as it sounds, the existing market cap of Bitcoin is even greater than that of Nike which accounts for about $84 billion at the time of writing. But as it turns out, these demographics seem quite unexpected for an company that is merely 9 years old.
Bitcoin And Other Cryptocurrencies
The market cap of all the cryptocurrencies when combined, turns out to be $175 billion. Out of this, Bitcoin alone has a whopping market cap of 94 billion USD (at the time of writing) accounting for 54.4% of the total market cap of all the cryptocurrencies. However, Bitcoin is not the only cryptocurrency that saw a drastic upsurge in terms of market cap. Ether, which happens to be the cryptocurrency powered by Ethereum platform also rose by massive proportion. Currently, the total market cap of Ether is close to 32.5 billion USD. Then comes Ripple which currently has the third largest market cap of all the cryptocurrencies. It currently has a market cap of $9.90 billion.
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About Author
Anirudh Bhardwaj
Anirudh is a Content Strategist and Marketing Specialist who possess strong analytical skills and problem solving capabilities to tackle complex project tasks. Having considerable experience in the technology industry, he produces and proofreads insightful content on next-gen technologies like AI, blockchain, ERP, big data, IoT, and immersive AR/VR technologies. In addition to formulating content strategies for successful project execution, he has got ample experience in handling WordPress/PHP-based projects (delivering from scratch with UI/UX design, content, SEO, and quality assurance). Anirudh is proficient at using popular website tools like GTmetrix, Pagespeed Insights, ahrefs, GA3/GA4, Google Search Console, ChatGPT, Jira, Trello, Postman (API testing), and many more. Talking about the professional experience, he has worked on a range of projects including Wethio Blockchain, BlocEdu, NowCast, IT Savanna, Canine Concepts UK, and more.