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Market cap is by definition people using it. They’ve exchanged their money for it.
by jejeyyy77 4y ago
Market cap is by definition people using it. They’ve exchanged their money for it.
- illiarian 4y ago> Market cap is by definition people using it. You and I have very different dictionaries it seems > They’ve exchanged their money for it. A thousand people trading magical tokens they pretend cost trillions of dollars doesn't make it: a) worth trillions of dollars and b) any significant usage
- jejeyyy77 4y agoEh? The fact that people have exchanged trillions of “real” dollars for them means precisely that’s what they are worth lol.
- lottin 4y agoMarket cap is meaningless. Using market cap as a metric anyone can become the richest person in the world. See here: https://www.youtube.com/shorts/igENXZRECOs https://www.youtube.com/shorts/igENXZRECOs
- the_gastropod 4y agoThat is not how market cap works. I start a company: SquidSoft, LLC. I sell you equity: 0.000000001% of SquidSoft, LLC for $1. Bam, SquidSoft, LLC’s market cap is $1T even though only $1 has traded hands.
- agumonkey 4y agousing has many meanings here, and store of value was only one of them