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Crypto total market cap is over $1 trillion, and Bitcoin represents 60% of that. It’s much more valuable than Facebook.
by programmarchy 6y ago
Crypto total market cap is over $1 trillion, and Bitcoin represents 60% of that. It’s much more valuable than Facebook.
- SpicyLemonZest 6y agoI'm skeptical that market cap is a useful metric here. Owning a cryptocurrency doesn't entitle you to a share of the value generated by that currency, so it's not clear why multiplying the price of 1 BTC by 21 million should produce a meaningful estimate of how much Bitcoin as a whole is worth.
- pcthrowaway 6y agoCouldn't the same be said for owning a stock? You can only get what you can sell them for. If you own 1 million shares of a company which has issued 10 million shares and is trading at $5/share, you can't dump your million shares for $5 million, because the price would change as you were trying to sell it
- SpicyLemonZest 6y agoIt could be, although there are definitely situations where you could sell 10% of a company for close to its market price. But then that just means we have to use other metrics, and Facebook comes out definitively on top in for example number of active users.
- Jasper_ 6y agoThe market cap of party confetti is over $1 trillion too. I don't think the market is anywhere near liquid enough to let you extract all of that $1 trillion, especially with Tethers looming over the whole industry.