Billion dollar cap press release

[Elwar]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but given that March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it could be a short time before Bitcoin joins the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price value were to rise as much over the course of the next 12 months, we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly pique the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses, such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay, which has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be greater than the market value of the Democratic Republic of Congo, whose M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that wishes for a currency that does not lose value to switch to Bitcoins and reap the benefits of it.

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[deadweasel]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but considering March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price were to rise as much over the course of the next year we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly peak the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay who has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be more than the market value of the Democratic Republic of Congo who's M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that desires a currency that does not lose value to switch to Bitcoins and reap the benefits of an established world currency.

Thanks Elwar!  Any outlets picking it up yet?

[thoughtfan]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but considering March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price were to rise as much over the course of the next year we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly peak the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay who has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be more than the market value of the Democratic Republic of Congo who's M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that desires a currency that does not lose value to switch to Bitcoins and reap the benefits of an established world currency.

Nicely written sire

PS I couldn't see it on Reddit - have you or someone else already, will you or would you like me to?

[Elwar]

I have not posted it anywhere as my work blocks any site like that.

So if anyone else could post it that would be great.

[deadweasel]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but considering March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price were to rise as much over the course of the next year we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly peak the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay who has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be more than the market value of the Democratic Republic of Congo who's M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that desires a currency that does not lose value to switch to Bitcoins and reap the benefits of an established world currency.

Elwar, I'm not sure where you could post it.  You could go into IRC in the #bitcoin-news channel and post a link to the thread.  You should be able to get in using http://webchat.freenode.net/ -- it won't be blocked, I hope.

[conspirosphere.tk]

So if anyone else could post it that would be great.

Done
http://webabuser.blogspot.com/2013/03/bitcoin-billion-dollar-market-cap.html

[Elwar]

Elwar, I'm not sure where you could post it.  You could go into IRC in the #bitcoin-news channel and post a link to the thread.  You should be able to get in using http://webchat.freenode.net/ -- it won't be blocked, I hope.

Yes, anything IRC is blocked. Government/NIPR network in Afghanistan. I am surprised this site is allowed (for now).

[Elwar]

So if anyone else could post it that would be great.

Done
http://webabuser.blogspot.com/2013/03/bitcoin-billion-dollar-market-cap.html

Nice. In Euros even.

[Piper67]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but considering given that March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price value were to rise as much over the course of the next year 12 months, we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly peak pique the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses, such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay, who which has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be more greater than the market value of the Democratic Republic of Congo who's, whose M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that desires wishes for a currency that does not lose value to switch to Bitcoins and reap the benefits of an established world currency it.

Just touched it up a bit.

[Zangelbert Bingledack]

but considering March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Bald speculation is a no-no in a press release.

[Elwar]

I wrote this up last night before it hit $1 billion, distribute at will:

With 10,960,750 bitcoins in circulation at a price of $94.50/BTC, Bitcoin has surpassed the market cap of one billion dollars.

If Bitcoin was a stock, it would still be considered a small-cap company until it reaches $2 billion, but considering given that March 6 (just 22 days ago) Bitcoin had a $.5 billion market cap, it will not be long before Bitcoin will join the ranks of the mid-cap companies.

Some companies of note that currently hold a $1 billion market cap are Office Depot, Freddie Mac, and US Airways (http://www.forbes.com/global2000/).

With Bitcoin prices holding around $4/BTC this time last year, a price of $94.50/BTC today shows a 2360% increase, if the price value were to rise as much over the course of the next year 12 months, we could be seeing the price as high as $2,232 this time next year. This would surpass the revenue of the United States video game industry. Such growth will certainly peak pique the interest of industry leaders and investors looking to get a piece of the market and join the many venture capitalists who have started putting some serious money into Bitcoin businesses, such as CoinLab's $500,000 (http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/) venture capital investment and BitPay, who which has just received additional seed funds following their initial $510,000 investment (http://www.floridaventuresourcing.com/2013/03/bitpay-raises-additional-seed-funds/).

If Bitcoin was a country, it would be more greater than the market value of the Democratic Republic of Congo who's, whose M1 stands at $1,016,000,000. This, after having passed Aruba ($868,500,000) and Fiji ($794,600,000) earlier in the week (https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html). Perhaps this will inspire some small country that desires wishes for a currency that does not lose value to switch to Bitcoins and reap the benefits of an established world currency it.

Just touched it up a bit.

Thank You.

[mccoyspace]

It is fine to compare the market value of Bitcoin to those other nations. But to say that Bitcoin is a notch better than the Congo isn't saying much. It's fair to say that the Democratic Republic of Congo is perceived as a lawless, violent and failed state. Why put Bitcoin at the top of a loser's list? (no offense to the people who work, live and struggle in those countries).

Numerically accurate and interesting, but not effective P.R.

[Elwar]

It is fine to compare the market value of Bitcoin to those other nations. But to say that Bitcoin is a notch better than the Congo isn't saying much. It's fair to say that the Democratic Republic of Congo is perceived as a lawless, violent and failed state. Why put Bitcoin at the top of a loser's list? (no offense to the people who work, live and struggle in those countries).

Numerically accurate and interesting, but not effective P.R.

That is why I included Aruba and Fiji right afterwards.

The last few countries were sexy...the next few are kinda lame. Niger, Cambodia, Suriname, Laos, Tajikistan.

[Elwar]

Just over a week later and we are right around the corner ($181) from having the market cap of a mid-cap company.


Definition of 'Mid Cap'
 A company with a market capitalization between $2 and $10 billion, which is calculated by multiplying the number of a company''''s shares outstanding by its stock price. Mid cap is an abbreviation for the term "middle capitalization".

http://www.investopedia.com/terms/m/midcapstock.asp