Bitcoin market capitalization is approaching 100 Billion USD as we are approximating to the next hard fork. Achieving this goal means that Bitcoin market capitalization grew 25% in just one week. Seven days ago, the market capitalization of the most famous virtual currency, was 80 billion USD. Now it arrives at 95 billion USD. One year ago, Bitcoin supply multiplied by its price was around 10 Billion USD.
This is good news for Bitcoin that this year experienced an exponential growth on its price and market capitalization. Bitcoin is spreading around the world, and surprisingly, performs better than the GDP of several countries. For example, Uruguay, Belarus, Mongolia, Madagascar or Iceland have less GDP than Bitcoin itself.
Bitcoin Market Capitalization is as Big as Ukraine’s or Ecuador’s economy
If Bitcoin would be a country, it would have an economy as big as the ones from Ukraine or Ecuador. That means that Bitcoin would be the 64th country with the biggest economy on earth. Cryptocurrencyprices.net offers good information about that.
The total market capitalization of all the cryptocurrencies is 172 billion USD and arrived at 176 billion USD on September the 1st. The recovery experienced during the last weeks is due to Bitcoin. The currency experienced a growth on its price mainly because of investors changing their investment portfolios. The main reason of this investment shift is due to Bitcoin Gold splitting from Bitcoin. A topic covered by CoinStaker during the last days.
How Bitcoin compares with other valuable assets?
The market capitalization that Bitcoin has is still small. Gold, the US Dollar, or big companies as Apple and Amazon have bigger market Capitalization than Bitcoin. Gold has 8,2 trillion dollars, the US Dollar 1,5 trillion dollars, Apple 730 and Amazon 402 billion dollars respectively.
Bitcoin price should be today $24054 dollars to equal Amazon’s market capitalization and $493110 to have the same market capitalization as gold.
What about Ethereum, Ripple and the other cryptocurrencies?
Ethereum has a market capitalization that arrives at 30 billion dollars and Ripple 9 billion dollars. If we compare them with countries, Ethereum would have a market capitalization similar to Cameroon’s GDP. But more than Estonia, the European country that wanted to issue its own cryptocurrency. Estonia’s GDP is 23 billion dollars.
Ripple, instead, has a market capitalization as big as the economy of the Bahamas or Chad. It means that it stands with a market capitalization similar to Mongolia’s economy.
It is a good performance for the next two cryptocurrencies in terms of market capitalization. Litecoin is a little bit behind with just 3,5 billion dollars’ market capitalization and a record in September of 4,7 billion dollars.
At the beginning of the year, Bitcoin had the biggest share of the Cryptocurrency market arriving at 87,22% market capitalization. In June touched the lowest point of market capitalization when it reached only 37,3% of the market. Now that we are arriving at the next hard fork, Bitcoin is recovering and has a 54,71% share of the cryptocurrency market capitalization.
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