Eye on IPO
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Chart of the Day
This chart puts the value of Bitcoin in perspective by comparing it against the market cap of listed companies and major asset classes. The massive bullish sentiment revolving around the Coinbase listing stateside has propelled the price of BTC to flirt with the $65,000 handle. What exactly does $65k mean to the larger crypto ecosystem? If the current momentum were to continue, Bitcoin as an asset would be a breath away from surpassing the market cap of major tech companies such as Google and Amazon. In fact, it took Bitcoin 12 years to reach a $1 trillion market cap, topping Google — a distant second — by almost a decade. Exciting times, right?