Home / Featured  / Bitcoin Is Now More Valuable Than McDonald’s or Disney

Bitcoin Is Now More Valuable Than McDonald’s or Disney

Bitcoin is having a moment. Monday, the cryptocurrency hit an all-time high of $9,721 per unit. This feat is made even more impressive when considering the fact that the total value of the 16.7 million bitcoins

Bitcoin is having a moment. Monday, the cryptocurrency hit an all-time high of $9,721 per unit. This feat is made even more impressive when considering the fact that the total value of the 16.7 million bitcoins currently in circulation has surged to more than $160 billion, besting the market capitalizations of surefire money stackers like McDonald’s and Disney.

 

“The legitimacy this gives bitcoin as a tradeable asset is very important,” ETX Capital senior market analyst Neil Wilson told the Guardian. “The market cap of bitcoin now exceeds that of IBM, Disney [or] McDonald’s.”

 

 

 

Bitcoin is up a staggering 1,195 percent over the past year. As Wilson and others have strongly advised, however, the potential for a massive bubble burst is still quite high due to the very nature of what bitcoin represents. Wilson has gone as far as calling bitcoin’s current surprise success as merely a “giant speculative bubble” that relies on “the greater fool” to set traditional real-word value.

 

Courtesy Of Complex

Please follow and like us:

lprophete@thephoenixmag.com

Review overview
NO COMMENTS

POST A COMMENT