Bitcoin Market Cap Reaches $9 Billion as Price Crosses $570
Posted: Sat Jun 04, 2016 8:03 am
The father of all cryptocurrencies, Bitcoin, has been on a strong rally in recent weeks with regard to its price as well as its overall market valuation. After going up as high as $588, the BTU/USD exchange rate is now at $574, an increase of about 10% from last week.
In terms of value, the total capitalization of all bitcoins in existence is now just over $9 billion again, a benchmark not seen since February 2014. For comparison, the market capitalization of online money transfers firm Paypal (NASDAQ:PYPL) is about $45 billion, already less just five six times that of the bitcoin network.
What ... (read more)