Bitcoin has nearly passed the market cap of PayPal for the first time, the latest statistics from the industry confirm.
In what Colu’s Udi Wertheimer called the “real Flippening,” Bitcoin’s market cap at press time was almost $68 bln, compared to PayPal’s $70 bln.
View image on Twitter
The symbolic reversal of values would continue Bitcoin’s further unprecedented growth in August following the lock-in of SegWit.
Sunday saw an all-time high set again of around $4192, which attracted continued attention from mainstream media sources.
Not just technological advances, but the bullish sentiment on Bitcoin’s business side could be fuelling a positive feedback loop of demand, Bloomberg adds. Bitcoin passing $4 bln is currently the publication’s most popular story.
“People are starting to price in the consumer demand from Coinbase’s $100 mln fund-raising round,” Bloomberg quotes Justin Short, founder of the NOUS trading platform.
“That’s a lot of advertising budget. Every $1 mln of marketing brings new demand, which increases the price as the supply is limited by design.”
Coinbase had announced the closure of the $100 mln Series D round late last week, and had previously reaffirmed its long-term plans for huge capacity increases when it said it aims to raise a total of $1 bln going forward.
source : https://cointelegraph.com/news/bitcoin-will-soon-beat-paypals-market-cap-approaches-70-bln
Interesting way to look at things
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please dont spam steemit with copy paste plagarism
u cant just repost other websites artiucles like this
try at LEAST rewriting it but look @steemcleaner 's @cheetah bot has flagged u and basicaly only hapens when peopel plagarize so please dont use steemit like this, uwont make amy money, im only asking for your own sake
if u wanna make money post actual fresh cointent
post what u normally woukd post on reddit or instagram dude
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Exactly, plagiarism isn't looked kindly upon here over at Steemit
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hey @avilsd sup i like ur videos on youtube and You and people like Drugslab need to monetize via steemit!
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I am monetizing ;) cheers <3 drugslab and psychedsubstance seriously should look into this though
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