Bitcoin Market Cap Above $8 Billion as Price Crosses $520

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Bitcoin Market Cap Above $8 Billion as Price Crosses $520

Postby kreslik.news » Sat May 28, 2016 9:07 am


The world’s leading cryptocurrency, Bitcoin, has marked another important milestone today with regard to market valuation. The total capitalization of all bitcoins in existence is now well over $8 billion again, a benchmark not seen since July 2014. For comparison, the market capitalization of online money transfers firm Paypal (NASDAQ:PYPL) is about $45 billion, already less than six times that of the bitcoin network.

Behind 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 above $520 after rising about 20% over the past week. Fueling the rally is massive ... (read more)

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