WHAT DOES BITCOIN'S TOTAL VALUE OF NEARLY 200 BILLION DOLLARS MEAN?
Let's look at Bitcoin's significance
Tozsdeforum.hu looked at what Bitcoin's nearly 200 billion-dollar total value really means.
It's clear that to comprehend the actual value behind that figure is not easy. To give it a try and define Bitcoin's significance, tozsdeforum.hu made a few comparisons, based on Bitcoin's 200 billion total value. The total value is the number of coins in circulation multiplied by the current exchange rate of Bitcoin. It is also called market capitalisation.
At the time of writing this article, this calculation looks like this:
16,721,875 Bitcoins are in circulation at present. If we multiply this number with the current exchange rate of Bitcoin ($ 11,822.20) what we get is Bitcoin's total value: 197,690,532,845 dollars.
To understand what this number means, we have 3 examples:
The two most powerful banks of the world vs. Bitcoin
Bitcoin's total value is higher than the total values of the two most powerful banks in the world combined! Goldman Sachs' market capitalisation is 97 billion dollars, and the Switzerland based UBS bank's is 67 billion.
Boeing vs. Bitcoin
The American Boeing company has a prestigious market capitalisation of 162 billion dollars. The company has been continuously growing for over a century with 140 thousand employees in 65 countries. That's what it takes to produce this total value. However, even that number is not high enough to compete with Bitcoin's market capitalisation figure of 200 billion dollars, which is more than 20% higher than Boeing's total value.
The world's richest people vs. Bitcoin
And if we compare Bitcoin to the combined fortunes of the world's richest people, this is what we see: even if Bill Gates and Warren Buffet - the 2 people on the planet – decided to turn all their fortunes into Bitcoins, they wouldn't have enough to buy all the Bitcoins in circulation.
Obviously, it is still inconceivable what 200 billion dollars means but, looking at the examples above, Bitcoin's significance and its role in the new financial world are beyond any doubt.