Money Bitcoin Now Bigger Than Buffett, Boeing and New Zealand Economy

13:36  06 december  2017
13:36  06 december  2017 Source:   Bloomberg

Bitcoin Blows Past $12,000

  Bitcoin Blows Past $12,000 Photo. Getty Images The Bitcoin bubble continues to stretch to even more grotesque proportion s, clearing a value of at least $12,007 per bitcoin and attaining a market cap of $200 billion on Sunday, TechCrunch reported. The strong gains more or less put Bitcoin on a path to clear a value of $13,132 by the end of calendar year 2017, and potentially even more.While doomsayers have been predicting a massive crash in the cryptocurrency market for years, Bitcoin has largely continued its trend of explosive growth - for now.

– New Zealand ’s GDP: The South Pacific nation’s farm-and-tourism-led economy is valued at 5 billion, according to World Bank data as of July, putting it some billion below bitcoin . The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

New Zealand ’s GDP. The South Pacific nation’s farm-and-tourism-led economy is valued at US5bil, according to World Bank data as of July, putting it some USbil below bitcoin . The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

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Bitcoin’s extraordinary price surge means its market capitalization now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires.

Home owner willing to accept Bitcoin as payment could make history

  Home owner willing to accept Bitcoin as payment could make history "It's something different, it’s never been done before."Robert Gadd has spent 18 months constructing the five-bedroom home in the foothills of the Dandenongs and has put it on the market.

Bitcoin has surpassed the value of the New Zealand economy . The combined wealth of Bill Gates, Warren Buffett and Queen Elizabeth is still less than the value of Bitcoin .

Bitcoin ’s extraordinary price surge means its market capitalization now exceeds the annual output of whole economies , and the estimated worth of some of the world’s top billionaires.

With the debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 and bringing its climb this year to more than 1,000 percent. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at $190 billion, it’s come a long way from August, when one coin could buy you a hefty supply of avocados.

Here are five things that have been eclipsed by bitcoin in terms of market capitalization:

Bitcoin’s extraordinary price surge means its market capitalization now exceeds the annual output of whole economies. © Chesnot/Getty Images Bitcoin’s extraordinary price surge means its market capitalization now exceeds the annual output of whole economies. New Zealand’s GDP

The South Pacific nation’s farm-and-tourism-led economy is valued at $185 billion, according to World Bank data as of July, putting it some $5 billion below bitcoin. The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

Bitcoin blasts past $10,000 mark amid bubble concerns

  Bitcoin blasts past $10,000 mark amid bubble concerns The cryptocurrency's value has risen nine-fold since the beginning of the year. Tuesday's trading price gives bitcoin a market capitalization of $168 billion, greater than the vast majority of S&P 500 companies, including Dow 30 components Boeing, Disney and GE.Since its founding in 2009, bitcoin has made a name for itself by allowing for anonymous transactions. The digital currency is now accepted by more than 100,000 merchants worldwide, including Microsoft, Dish and Subway. The cryptocurrency has experienced a massive run in 2017. On Jan. 1 this year, bitcoin was priced at just under $1,000.

HONG KONG (BLOOMBERG) - Bitcoin 's extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies , and the estimated worth of some of the world's top billionaires.

New Zealand ’s GDP. The South Pacific nation’s farm-and-tourism-led economy is valued at 5 billion, according to World Bank data as of July, putting it some billion below bitcoin . The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

Goldman Sachs, and UBS

Lloyd Blankfein wearing a suit and tie: Goldman Sachs Group Inc. Chairman And Chief Executive Officer Lloyd Blankfein Interview © Bloomberg Goldman Sachs Group Inc. Chairman And Chief Executive Officer Lloyd Blankfein Interview Bitcoin’s run-up has even seen it valued more highly than two of the world’s most influential banks. Goldman Sachs Group Inc.’s market cap was $97 billion as of Friday, while Zurich-based UBS Group AG came in at about $67 billion. Add those numbers together and it still falls short of bitcoin.

Both financial heavyweights have taken a hands-off approach to the digital currency, with Goldman CEO Lloyd Blankfein saying it’s too early to draft a bitcoin strategy and UBS -- the world’s biggest wealth manager -- saying it won’t allocate it in portfolios because of the threat of a government crackdown.

Boeing

It may make jumbo jets but Boeing Co.’s market cap of $162 billion is also less than that of a digital currency that didn’t exist 10 years ago. The Chicago-based company, which describes itself as the world’s largest aerospace firm, is more than a century old and employs 140,000 people in more than 65 countries, according to its website. Rival Airbus SE fares no better -- it’s got a market value of 66 billion euros ($78 billion).

The only thing rising faster than Bitcoin's price is the number of people who think it's a bubble

  The only thing rising faster than Bitcoin's price is the number of people who think it's a bubble Bitcoin mania is showing few signs of slowing down with prices surging to $US11,390, an all-time high, on Wednesday. About the only thing rising faster than the cryptocurrency is the number of people who think it's a bubble. Bitcoin mania is showing few signs of slowing down with prices surging to $US11,390, an all-time high, on Wednesday.

Published by. 3m read. 4 December 8.56am. Hargreaves Lansdown is not responsible for this article's content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Five things that have been eclipsed by bitcoin in terms of market capitalisation.

a screenshot of a cell phone: Bigger Than Boeing © Bloomberg Bigger Than Boeing

Fourteen Aircraft Carriers

If bitcoin’s market cap could be used to buy military equipment, it would pack a mighty punch. The USS Gerald R. Ford, the first of a new class of nuclear-powered supercarriers, was delivered to the U.S. Navy in May. It cost an estimated $13 billion, so if investors put all their bitcoins together they would be able to buy a fleet of fourteen ships.

Bill Gates, Buffett and the Queen

They sit atop Bloomberg’s Billionaires Index, but even if Bill Gates and Warren Buffett pooled their fortunes they wouldn’t have enough to buy all the bitcoins in circulation. Gates is worth $90 billion and Buffett has $83 billion, according to the index. Not even Queen Elizabeth II could get them over the line if she brought her $383 million to the table. While we don’t know what he told Katy Perry, Buffett has called bitcoin a “real bubble” in the past.

The Winklevoss twins think bitcoin could 'go up another 20 times' and trounce gold .
The Winklevoss twins think bitcoin could appreciate 20 times and trounce gold. Others say the cryptocurrency is in a bubble. Traders in the new bitcoin futures market appear bullish on the red-hot coin. Contracts for the January futures contract on Cboe Global Markets were trading well-above the spot market for bitcoin, at over $US17,500 a coin on Monday.But most traders are nowhere near as bullish as the Winklevoss twins. Tyler and Cameron Winklevoss, whose bitcoin holdings are worth more than $US1 billion, told Fox Business Monday the coin could reach well above $US300,000 a coin.

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