Bitcoin

With 600% Growth, Bitcoin’s Market Capitalization Is Fast Approaching $100 Billion

The valuation of cryptocurrency is on an unstoppable rise. There was a time when the market capitalization of bitcoin was $10 billion. However, it currently stands at $93 billion (at the time of writing this piece) and it is fast approaching the astounding landmark of $100 billion. The current market capitalization of bitcoin is equivalent and can be compared to plenty to top 100 global organizations.

Source: Blockchain

This week the market capitalization of bitcoin has set an all-time new record of over $95 billion. It is only a matter of time before the mark touches and crossed the $100 billion. During this year, the capitalization has seen a remarkable growth of 600%. In January, the capitalization was recorded at $15.6 billion.

Also Read: Bitcoin goes past record $5200

Global ranking of bitcoin

According to Pricewaterhouse Coopers report, bitcoin is positioned at No. 81 in the top 100 global companies. Goldman Sachs is ranked at No. 78 position. Bitcoin is quite a few place above United States Postal Service. Moreover, the hot cryptocurrency is well above Nike and Australian mining giant BHP Billiton as both of them have a market capitalization of $92 billion.

As per the IMF projections, the market capitalization of bitcoin can earn it a place of 66th in the list of countries with top market capitalization. If bitcoin were a country, it would have been placed just above Slovak Republic ($89.1) and beneath Ukraine ($95.9).

In terms of total market capitalization of all digital cryptocurrencies, it is equivalent to Philip Morris International ($175 billion). The market capitalization of all cryptocurrencies is higher than Algeria ($173.9 billion) and lower than Iraq ($189.4 billion).

Quick Read: Cryptocurrency market is going through its highest ever valuations

Other cryptocurrencies are also gaining momentum

Not only bitcoin, but plenty of other major cryptocurrencies have also increased by multiple folds this year. At present, the market capitalization of Ethereum boasts a market capitalization of $31 billion. Being the third largest cryptocurrency, Ripple’s market capitalization is close to $10 billion.

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