All Bitcoin tokens in circulation now have a combined market capitalisation value of $500 billion making it the world’s largest financial service.
According to an Asset Dash publication, Bitcoin is now the 11th biggest asset in the world. It is also the world’s most valuable financial service after surpassing Visa.
As seen on Twitter, “Facebook, Apple, and Tesla are some of the assets that are still bigger than Bitcoin. However, the cryptocurrency has surpassed the likes of Samsung, Walmart and Coca Cola.”
Towards the end of 2020, Bitcoin has been on an impressive value surge. Between 25 and 26 December 2020, Bitcoin value rose by $28,000 (a 15% growth). This is above the $25,000 mark that analysts were predicting.
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Yahoo! Finance explains that British fund manager Ruffer Investment Management was behind Bitcoin crossing the $20,000 value mark after it revealed that it had bought $745m worth of crypto.
However, while some are buying more shares in the asset some investors are also selling. One example is high-profile Bitcoin investor Nigel Green, chief executive of deVere. Green sold about half of his Bitcoin holdings.
When asked why, the investor explained; “Because it should now be treated as any other investment—that’s to say, where possible, it’s better to sell high and re-buy in the dips.
“The steady gains in the price of Bitcoin has made the digital currency the top performing asset of 2020, up over 200%. As such, I felt the time was right for profit-taking.
“There should be no misunderstanding about my decision to sell. It is not due to a lack of belief in bitcoin, or the concept of digital currencies—it’s profit-taking now to buy more later.”
As Bitcoin value continues to rise so does the conversation around it.
Massive
I would have been a billionaire in dollars by now o
Waoh