It's tiny, no more than the size of a single company in the real market. Crypto is cool, no need to exaggerate its size as more relevant than it really is, right it it's a tiny drop in a huge ocean of capital, it is not significant. The market cap of just the top 500 companies is $17.4 trillion.
If the market cap of the top 500 companies is 17.4 trillion then that averages out to 17400/500 which is a bit under 35 billion each. Which makes bitcoin as large or larger than a good chunk of those F500 companies.
I'm sure you could have picked a better example to illustrate just how tiny bitcoin is.
Uh, bitcoin is the size of a single company, that's a pretty good example of how small it is. It's 1/6th the size of Google, that's not a world changing amount of capital.
Again, that's incredible to me. Just think about it: something that was launched less than a decade ago in 'fire and forget' mode is right up there with one of the tech giants. It's not quite world changing but let's wait until it is over until we call that one.
I'm a big fan of crypto, I'm just saying don't count your chickens before they hatch; it isn't world changing yet, might be or might not be eventually but no need to exaggerate.
> it isn't world changing yet, might be or might not be eventually but no need to exaggerate.
Agreed. But think of it as my expectations of what Bitcoin would become being rather lower than where it is already. I'm absolutely amazed at how far it has come.
8 years after forming Google, the company wanted to raise $2.7B USD in their IPO. 8 years after Bitcoin was released, BTC has a market cap of $70B USD.
