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The world’s leading cryptocurrency, bitcoin, has marked an important milestone today with regard to market valuation. The total market capitalization of all bitcoins in existence is now over $7 billion again, a benchmark not seen since August 2014. For comparison, the market capitalization of online money transfers firm Paypal (NASDAQ:PYPL) is about $49 billion, or just seven times that of the bitcoin network.
Fueling the rise in market cap is the fact that bitcoin’s price has been on a rally recently, with the BTC/USD exchange rate today reaching $453.50. Exactly a month ago March 24th, 2016 the price was as low ... (read more)