Why You Shouldn’t Ignore Bitcoin Anymore.
This month the Bitcoin market cap passed the $100 billion dollar mark. To remind you, only 4 years ago its market cap was just over $1 billion dollars. Let’s put this in perspective. Look at how long it took the largest tech companies in the world (as ranked by Forbes) to reach $100 billion dollar market caps.
Market cap (short for capitalization) is essentially a measurement used to gauge a companies size. It’s the current stock price multiplied by the amount of outstanding shares.
Apple (AAPL) 37 Years
Went public December 12th, 1980. At the time its shares were sold at $22 each. 37 years later, the rapidly growing tech giant had a $111.9 billion market cap (Wikinvest).
Microsoft (MSFT) 11 Years
Sold publicly March 13th, 1986 for $21 dollars a share. Their race to the $100 billion market cap took a short 11 years, when they closed 1997 with a $146.8 billion market cap.
Intel (INTC) 26 Years
October 13, 1971 Intel’s IPO. Shares were $23.50 each. 26 years later Intel reached a market cap of $129.46 billion.
Amazon (AMZN) 16 Years
Should I go on?
What does this mean?
It could mean that Bitcoin is overheated (or too much money is going into it) so the price is overvalued. That is true to some extent, but the general trend shows that Bitcoin is here to stay, and that it will keep growing in its reach and value.
Most importantly it means you should get educated on it. You don’t have to become a nerdy crypto trader, but you should prepare for a future of digital currency.
I should give one caveat. Bitcoin, unlike these others, is not a tech company. It doesn’t deal in commodities, and it doesn’t offer service or software. Bitcoin is merely a public ledger store of value, so the comparison isn’t spot on. With this being said, this comparison does illustrate the rate at which something is widely adopted. And Bitcoin’s adoption has been far outperformed the others.
Follow our blog to learn more and start an account investing your spare change into Bitcoin and just see what happens!
