Bitcoin’s Market Cap Surpasses $100 Billion

By on October 24, 2017

Bitcoin Throttles Past $100 Billion Market Cap

Bitcoin’s total market cap (total number of Bitcoins x bitcoins current value) has surpassed $100 billion, making it the first cryptocurrency to achieve this milestone.

According to Forbes, at this level, Bitcoin is worth more than legendary New York based investment bank Goldman Sachs (NYSE: GS) and household names Sony (NYSE: SNE) and eBay (NYES: EBAY) combined.

The worlds most valuable digital currency reached this milestone shortly after breaking through $6,000 per coin in mid October. The $6000 coin price gives Bitcoin a %500 year-to-date return for the currency’s investors.

Bitcoin reigns supreme in a field that has enjoyed continued gains throughout the year as crypto currencies are becoming more popular with high profile investors and corporations.

(source: Forbes)