Quick Market Report: BTC Up at $4200, Paypal/BTC Market Cap Comparison
Hi, everyone!
Just writing up a quick market report right now :)
Bitcoin is up at $4200 again on many exchanges, as its market cap is nearing an interesting number!
Have a look at Bitcoin's Market Cap:
And the market cap of Paypal (PYPL):
Notice anything? Bitcoin is less than half a billion dollars away from having a higher market cap than Paypal! Update: As of evening on August 14th, 2017, Bitcoin has passed Paypal's market cap.
That's it for right now :)
Be sure to see my Market Report on Bitcoin's Future for investment tips and predictions for the future of BTC.
Thanks for reading and have a great day.
—@mooncryption
Note: An important point brought up by @tfpostman is that Paypal's Market Cap represents the value of the company itself, while Bitcoin's Market Cap is the money in circulation. The term Market Cap was designed to work with stocks, though digital commodities and currencies have adopted the term as well. As put by Blockchain.info, a Bitcoin/crypto market cap is "The total USD value of bitcoin supply in circulation, as calculated by the daily average market price across major exchanges," while a stock market cap is the value of the company (calculated as share price times number of shares). Though the definitions are somewhat similar as they involve the value of the crypto/company and are calculated as individual item times number in circulation, Bitcoins are currencies/commodities rather than shares of a company.
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Paypal Marketcap = value of Paypal the co not money circulating through Paypal.
Bitcoin Marketcap on the other hand is the money circulating which is Bitcoin itself and not a company
A valid point. Edited the article to include :)
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