Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley

BitCoin is now bigger than Goldman Sachs and Morgan Stanley, the very companies whose CEOs are calling BitCoin a bubble and a fraud. The price of BitCoin hit an all time high of $5900 today, valuing all coin in circulation at $97 billion. That’s bigger than the market capitalizations of Wall Street giants Goldman Sachs ($93 billion) and Morgan Stanley($89 billion). BitCoin is now bigger than Honeywell, Bayer, Eli Lily, UPS, Nike, Walgreens, Starbucks, Qualcomm, CVS, Daimler and many other companies.

Bitcoin was created by Satoshi Nakamoto following the financial crisis in 2008. He released BitCoin as a decentralized currency with no central authority that allow online payments to be sent directly from one party to another without going through a financial institution.

IMF’s Christine Lagarde, recently said Bitcoin could be the future one day.