The Place of Cryptocurrencies in the System of the Entire World’s Wealth

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The digital currency market has been bearish for 8 months already, representing a downward trend in general. Many respected entrepreneurs, such as Jamie Dimon, JPMorgan CEO, think that this trend will continue. However, Bitcoin and altcoins have already become an important part of the global economy.

If we look at the right side of the graph, it is easy to notice that bitcoin’s market cap is currently bigger than the personal funds of Bill Gates and nearly equals the fortune of Jeff Bezos. Moreover, the total value of all virtual coins in the world is at the astonishing level of $202 billion. That is even twice more than the capitalization of Goldman Sachs.

Let’s pay attention to other numbers now. First of all, it is crucial for any investor or trader to understand the scale of fintech’s development. For example, the first trillion-dollar company, Apple, is worth $888B more than bitcoin ($1T vs. $112B). Cryptocurrencies are even tinier compared to the world’s stock markets at just 0.30% ($67.5T vs. $202B). Cryptocurrencies are the equivalent of only 0.23% of all the money in the world, broadly defined ($86.5T vs. $202B). Given all these comparisons, it is clear that cryptos are only at the beginning of its route and there is a lot of unpredictable twists ahead.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/place-of-cryptocurrencies-in-system-of-entire-worlds-wealth/