According to the British Online Newspaper “Independent”, Bitcoin has grown so fast that its value is even bigger than Boeing and New Zealand’s economy put together. Whaooo, that’s a whole lot of progress for a new cryptocurrency that was born 8 years ago.
Bitcoin > Boeing and New Zealand’s economy
First of all, you got to know that the cryptocurrency has hit all-time record by reaching 1000% only this year (2017). Maybe next year will be twice than what we saw in 2017. Bitcoin price escalation means that its market capitalization is now more than the annual score of whole economies. On Monday 04, 2017, Bitcoin escalated higher by reaching a total value that is more than $11,000 by developing its increase to 1000% for 2017.
After the market tracker Coinmarketcap.com analyzed the overall value of bitcoins in stock, the result showed that it was sitting on a $19bn (in circulation). The story is sourced from August 2017 when 1 simple coin could buy you a massive supply of avocados. Here are four things that happened after BTC value exceeded to 1000 percent value.
1- New Zealand’s Gross Domestic Product (GDP)
According to the world bank data, New Zeland economy value is a total sum of $185bn which makes $5bn lesser than the total Bitcoin value.
2- Goldman Sachs and UBS
The leading cryptocurrency value shows that it is worth more than two of the essential Banks in the world. As for Friday 2-December 2017, Goldman Sachs Group’s market capitalization hit $97bn while UBS Group AG recorded about $6bn. If you put the number together, you will see that it is still behind BTC.
Boeing which market capitalization is $162bn is lower than the digital currency leader value. The American Airline Giant known as the world largest aerospace firm is more than a century old. And now, a newborn which is just 8 years old have tackled Boeing with an unstoppable speed.
4- Bill Gates, Buffett, and the Queen of England
Bill Gates has a net worth of $90bn and Waren Buffet net worth said to be $83bn. These two moguls plus the Queen Queen Elizabeth II’s $ 383 million still can not afford to buy all the bitcoins in circulations. In fact, Buffet even called BTC a few months ago ” real bubble”