Bitcoin market value surpassed Coca-Cola’s

December 6, 2017 7:59 pmComments Off on Bitcoin market value surpassed Coca-Cola’sViews: 167

Bitcoin market valueBitcoin market value surpassed Coca-Cola, following the significant growth since the beginning of the year and exchange rate surpassing 11,000 EUR. With this growth for the first time, the total market capitalization of a Bitcoin reached 200 billion USD. To give an idea of ​​how quickly the value of this currency is rising, we recall that at the end of October the crypto-currency had a capitalization of 100 billion USD. The combined market valuation of all crypto-currencies is 356.9 billion USD.

With its current size, the Bitcoin is larger almost all components in the S&P 500. With the 200 billion USD increase, the market capitalization of this currency is now higher than Coca-Cola’s estimate and 1% below Oracle Corp.

Although there is no ETF dedicated to the crypto-currency, the Bitcoin is not too far from the overtaking of the largest ETF in volume – the SPDR S&P 500 ETF Trust, which has assets of “barely” 258.2 billion USD. So far, in 2017, the Bitcoin has risen by more than 1,100% after ending 2016 at a price below 1,000 USD. At the same time, the S&P 500 index grew by 18%.

Although the price is highly volatile, it rises against a background of a number of comments that it is a bubble or a scam, including high-profile investors such as the JP Morgan Chase’s Chief Executive Officer, Jamie Dimon.

The Commodity Futures Trading Commission said last week that it would allow futures to be listed on a number of exchanges, including CBOE Global Markets, Nasdaq and CME Group, which said they would launch such products. Futures are seen as potentially a new legitimacy of the battlefield as an investment and could trigger further demand.

The crypto-currencies also took advantage of the growing interest in block, the basic technology behind the Bitcoin.

“Just as the Internet has transformed our lives with emails, e-commerce, or smartphone applications, we believe a block-chain technology can fuel future technologies through smart contracts, symbols, or identity management”, said the UBS in October.

The investment bank added that the block is “close to investing in the Internet in the mid-1990s”, adding that it could add up to 20 billion USD in global economic value by as much as 300 billion USD to 400 billion USD globally.

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