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Has cryptocurrency finally became too big to fail? With $3 Trillion market cap, that’s a lot of vested interests.
by g42gregory 5y ago
Has cryptocurrency finally became too big to fail? With $3 Trillion market cap, that’s a lot of vested interests.
- verdverm 5y agoNo, it's more about integration into society. If Bitcoin went away, the economy would not repeat the great financial crisis of 2007-8. It's still largely speculation at this point. Consider the US is passing 2 bills which total more than that this year alone. Consider there are several companies that are worth more than Bitcoin independently. Consider crypto has been primarily used for speculative investing in "printed money". Consider the wealth concentration is greater in cryptos.
- alwillis 5y agoIf Bitcoin went away, the economy would not repeat the great financial crisis of 2007-8. It's still largely speculation at this point. This is the wrong way to look at it. It went from $0 in 2009 to more than $1 trillion in about 12 years and has been the best performing asset of any kind in history. It's still relatively early; the vast majority of the world has never heard of bitcoin but it's just a matter of time before they do. In terms of circulation, Bitcoin has the 3rd largest market cap after the dollar and the Euro according to Deutsche Bank: https://decrypt.co/39425/bitcoin-is-3rd-largest-world-currency https://decrypt.co/39425/bitcoin-is-3rd-largest-world-curren...
- bradwood 5y agoIt has been that way for some time. It's near enough impossible to turn it off and, for many, it represents the natural evolution of money.