Dec 15, · Bitcoin is up % for the day, with a market value of about $ billion. It has a circulating supply of 18,, BTC coins and a maximum supply of 21,, BTC. Michael Saylor had a month ago, disclosed how billionaires, could turn the price of Bitcoin up at least three 24crypto.de: Olumide Adesina. Buy Bitcoin. USD Markets. All. Coins. Tokens. Featured Tokens. Exchanges. Gainers and Losers. Market Cap. Market capitalization (often shortened to market cap) is the approximate total value of a cryptocurrency, typically shown in US dollars. Dec 20, · Not so fast. Even following its monumental rally, bitcoin has a total market value of $ billion. That compares to approximately $ trillion in global gross domestic product (GDP) in
Market value bitcoin buy24crypto.de Markets | Price, Charts, News
He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading and Financial market reporting. This site uses Akismet to reduce spam. Learn how your comment data is processed. XRP has rebounded strongly on Christmas day.
S Securities and Exchange Commission. Securities and Exchange Commission. Congratulations, Chairman Roisman! I look forward to your leadership of the SEC. Ripple and its top executives were accused by the U.
Whale alert! Bitcoin is up 1. This makes it very easy for anyone to see the transactions and balances of any BTC address. Grayscale added more than 10, Bitcoin to its crypto holding, bringing the total number of Bitcoins under its management to , Per Sonnenshein , the current Bitcoin bull market is different from the bull run.
READ: U. Get the scoops and market intelligence that can help you make better investment decisions right in your mailbox. Connect with us. Share Tweet. Olumide Adesina. Click to comment. Leave a Reply Cancel reply Your email address will not be published. But I am not part of that community, nor can I say I ever will be. The higher bitcoin goes, the more convinced I am that it's one of the most dangerous investments. Each of the major buy theses surrounding bitcoin can be easily debunked -- as follows.
One predominant catalyst for bitcoin is the perception of scarcity. It currently has Over time, the remaining 2. With only so many tokens to go around fractions of a token can be bought and sold , the buy thesis suggests that this scarcity makes bitcoin an excellent investment. The problem is that bitcoin lacks genuine scarcity. Its perceived cap of 21 million tokens exists because of computer code. Last I checked, code can always be erased and rewritten. While it's unlikely that a community consensus would be reached to increase the circulating supply of bitcoin, the possibility of this happening isn't zero.
By comparison, a precious metal like gold has a hard supply limit. We can't use alchemy to make more gold. The only gold that's available is what's been mined or is still underground.
When the only parameter of scarcity is written computer code, that's not true scarcity. Another buy thesis of bulls is that bitcoin's utility is growing by the day. More businesses are accepting digital tokens for payment, and a broader swath of people are buying bitcoin tokens for the first time.
According to financial services company Fundera, around 2, U. More than a dozen multinational companies also accept bitcoin. Slam-dunk proof of increasing utility, right? Not so fast. There are not nearly enough tokens in existence to drive widespread adoption, based on these figures. As one additional note, there are about Removing these nonemployer businesses leaves 7. Census Bureau in According to Fundera, just 2, of these businesses are accepting bitcoin. Bitcoin bulls are also pretty convinced that the most popular digital currency is now a bona fide store of value: i.
When coupled with the central banks' pledge to keep its federal funds rate at or near record lows, it's pretty evident that the U. Crypto investors believe that a ballooning money supply is a green flag for bitcoin to head significantly higher. The issues I have with the store-of-value thesis are twofold. First, bitcoin isn't backed by any other asset or government. Therefore, it has no tie-ins or official relationship to the movements of the U.
Implying that a ballooning money supply should push bitcoin higher is nothing more than a dart throw. Second, store-of-value assets are designed to maintain their value over time and protect investors from volatility. Yet in March, bitcoin nearly lost half of its value in a hour period. In , bitcoin lost about half its value in about six hours.
This isn't how a store-of-value asset behaves.