Bitcoin (BTC) prices - Nasdaq offers cryptocurrency prices & market activity data for US and global markets. Dec 20, · Not so fast. Even following its monumental rally, bitcoin has a total market value of $ billion. That compares to approximately $ trillion in global gross domestic product (GDP) in Buy Bitcoin. USD Markets. All. Coins. Tokens. Featured Tokens. Exchanges. Gainers and Losers. Market Cap. Market capitalization (often shortened to market cap) is the approximate total value of a cryptocurrency, typically shown in US dollars.
Market value bitcoin buyHere's Why I Won't Buy Bitcoin, and You Shouldn't, Either | The Motley Fool
This makes it very easy for anyone to see the transactions and balances of any BTC address. Grayscale added more than 10, Bitcoin to its crypto holding, bringing the total number of Bitcoins under its management to , Per Sonnenshein , the current Bitcoin bull market is different from the bull run.
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Continue Reading. Data retrieved from crypto futures analytic platform, Bybt , shows Grayscale had , Bitcoins as of December 21st, The amount surged to , BTCs a day later, an increase of about 12, Latest Trending.
Paid Content 31 mins ago. Macro-Economic News 53 mins ago. Coronavirus 1 hour ago. Business Half Hour 2 hours ago. According to financial services company Fundera, around 2, U. More than a dozen multinational companies also accept bitcoin. Slam-dunk proof of increasing utility, right? Not so fast. There are not nearly enough tokens in existence to drive widespread adoption, based on these figures.
As one additional note, there are about Removing these nonemployer businesses leaves 7. Census Bureau in According to Fundera, just 2, of these businesses are accepting bitcoin. Bitcoin bulls are also pretty convinced that the most popular digital currency is now a bona fide store of value: i. When coupled with the central banks' pledge to keep its federal funds rate at or near record lows, it's pretty evident that the U.
Crypto investors believe that a ballooning money supply is a green flag for bitcoin to head significantly higher. The issues I have with the store-of-value thesis are twofold. First, bitcoin isn't backed by any other asset or government. Therefore, it has no tie-ins or official relationship to the movements of the U.
Implying that a ballooning money supply should push bitcoin higher is nothing more than a dart throw. Second, store-of-value assets are designed to maintain their value over time and protect investors from volatility. Yet in March, bitcoin nearly lost half of its value in a hour period. In , bitcoin lost about half its value in about six hours. This isn't how a store-of-value asset behaves. Bitcoin optimists will also crow about bitcoin leading the digital payments revolution.
Going cashless could resolve the issues created by certain regions of the world being underbanked. Additionally, the blockchain technology that underlies bitcoin could revolutionize the payment processing and settlement time frame, especially in cross-border transactions. While I don't disagree that a digital payments revolution is underway, or that blockchain could offer global financial and supply chain solutions, bitcoin isn't the vessel that's going to make this vision a reality.
The interesting thing about blockchain is that it can be tethered to multiple types of digital currency, be used in conjunction with fiat currency, or can operate independent of a tethered token. There's absolutely zero evidence that bitcoin is necessary to support a blockchain revolution. To add, buying bitcoin tokens does not give an investor any ownership in the underlying blockchain.
With no ownership in the solution that has the potential to actually drive this digital revolution, bitcoin investors are pinning their hopes on other investors being willing to pay more for a currency that exists only in computer code than they did.
So, why is bitcoin rallying? I'd surmise it's a combination of short-term emotions, technical analysis i. After all, it's nowhere near as easy to bet against bitcoin as it is to bet against a publicly traded stock. History has proved that sentiment can shift at the drop of a pin in the cryptocurrency space. I'd suggest investors keep their distance from bitcoin. Investing Best Accounts. Stock Market Basics. Stock Market.