The world's largest cryptocurrency has just passed the $ 1 trillion market cap mark. This value represents the total bitcoin offer multiplied by the price, estimating its relevance in the world market.
For comparison, the market value of gold is $ 11.33 trillion according to the 8marketcap website. This means that Bitcoin already represents about 8.8% of the market size of the precious metal used as a store of age-old value. To reach the $ 1.5 trillion silver market cap, the bitcoin market still needs to grow 50%.
This move comes as more companies are showing interest in cryptocurrency, like the world's largest manager BlackRock, Morgan Stanley and others. In addition, even the city of Miami is suggesting that it will invest in bitcoin with the city hall's cashier.
After reaching the $ 50,000 mark, in part because of Tesla's support, which invested $ 1.5 billion and said it was studying accepting BTC as a means of payment, the technology returned to the front pages of newspapers.
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The market value is now so relevant that it exceeds the total capitalization of the Brazilian Stock Exchange. As shown by data from B3, the market's general market cap was R $ 5.315 trillion on February 18, while Bitcoin's surpassed R $ 5.51 trillion at a price of R $ 295 thousand according to updated data.
Is it just the beginning?
Even in the early days of Bitcoin, crypto expert Hal Finney was already speculating the asset's potential if it reached mass adoption. After all, it was created to be the currency of the internet and may one day reach billions of users.
In the cryptography mailing list, where the Bitcoin white paper was released, Finney wrote:
“Estimates of all family wealth from around the world that I have found range from $ 100 trillion to $ 300 trillion. With 21 million coins, this gives each coin a value of around $ 10 million. So, the possibility of generating coins today with a few cents of computing time can be a good bet, with a reward of something like 100 million to 1. ”
At the beginning, much was said about the difficulty of scaling the technology, which could prevent Bitcoin from receiving so many users. But today we have several updates coming and second layers being built that aim to solve this problem.
Now that it has passed the $ 1 trillion mark, do you think that Bitcoin could become the main reserve currency of value in the world? What would be the consequences of that? Leave your opinion in the comments below.