Bitcoin Is Now the 20th Biggest Asset by Market Cap

[erikoy]

I thought it was rank 6th biggest currency in the world. We know how much bitcoin had worth in the market. Anyway, 20th rank is not bad either knowing that there are many rich country around the world. USA or the US dollar is one of the strong currency with China, Russia and some western countries and I think in some parts too in asia. Yet, this is not something that can be seen by now because bitcoin keeps growing everyday.

[mersal]

I thought it was rank 6th biggest currency in the world. We know how much bitcoin had worth in the market. Anyway, 20th rank is not bad either knowing that there are many rich country around the world. USA or the US dollar is one of the strong currency with China, Russia and some western countries and I think in some parts too in asia. Yet, this is not something that can be seen by now because bitcoin keeps growing everyday.

Its not about the market cap of all the currency list,its about all the assets in this world which includes gold and the value of biggest companies.

I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?

Lost coins still plays a role in the value of the bitcoin per unit so I don't find any reason why it should be excluded from the total marketcap.And these are lost coins based on assumptions but still it can be accessed when the user gets their private keys.

How are you going to measure the lost amount. AFAIK it's all based on estimations. We don't know how many coins were lost. Even if you assume that coins that weren't moved for the last 8 years must be lost, the same can be said about coins moved last year. There are wallets being lost and recovered every month, so dormant addresses are not an indication of lost coins.
For me the situation with Bitcoin climbing up in the list of assets is completely normal. It's going to go much higher.

Even though the coinmarket is not really important its going to climb up in the upcoming years which is going to attract more people eventually, we can say that bitcoin is not created for the purpose of being one of the preferred investment asset but its still becoming one which has its pros and cons.

[aesma]

Market capitalization is important for a company, but Bitcoin isn't one

Exactly. A company earns money, Bitcoin doesn't. When you buy a company's shares, you expect to get a dividend, or the price to rise, or both, because the company will generate profits. Bitcoin doesn't generate profits. So a better comparison should be with gold or similar assets (works of arts, collectibles...).

The best guess is that around 190000 tonnes of gold have been mined, so at today's price of 61$/gram, that gives us 11590 billion "market cap" for all the gold in the world (not counting unmined gold, just like we're not counting unmined BTC). Still ways to go for Bitcoin !

[Lizzylove1]

It's just the beginning of a bigger thing to come.  As more and more bigger financial institutions lend support to bitcoin and make it easier for their customers to buy and use bitcoin. I expect bitcoin to move higher up in the financial table maybe 2 years from now. Don't sell your bitcoin, never fall for any bad analysis. 

[Poker Player]

About Bitcoin being compare with payment processors companies just like Visa and Mastercard, it's kinda  far from Bitcoin if we only talk about transactions, since Visa got around 65,000 transactions per seconds while Bitcoin got only around 4.5 transactions per seconds.
But I am not being negative on Bitcoin, there are just some part that these payment processors are really different with Bitcoin.

Well, actually, although bitcoin was conceived as a peer-to-peer electronic cash system, it is actually being used more as a store of value. A creation can go beyond what its creator conceived.

All those institutional investors which are buying bitcoin, like MicroStrategy, are not buying it as a currency, they are buying it as a store of value that protects against inflation.

[ChrisPop]

For the value behind the Bitcoin network and technology it's market cap is still extremely low in comparison with the potential.

It's still early, guys. $16000 will probably seem like $3000 in a year two.

[Lucius]

...there is no such thing as "reliable estimates" there is only guesses that are very unreliable too. some of them are of course pretty good guesses but nothing more.

Methodology that those coins who have not moved in a certain number of years are considered lost BTC (say 4), is something that someone can use to do their internal analysis, but as you say it's just a guess that has no solid facts behind it. As we have seen lately, coins from 2010 are often the subject of debate, and it is precisely such transactions that show that we cannot really know what has been lost and what has only been kept in the long run.

~snip~

This has been pretty clear to some for a long time, some others seem to have only recently discovered it, and some still stick to their old stories that Bitcoin will collapse one year in the future. If we refer only to the price, then I would agree that we are still very low considering how little BTC is in circulation at all, and what the total supply is. I remember a few years ago that someone wrote that there are about 36 million millionaires in the world, and only 21 million BTC - I'm sure there are even more (millionaires) today - in other words, I believe that there will come a time when it will not be so easy and simply to buy a BTC, no matter what price someone will be paying.

[posi]

Yes, you are right and I also thought about the same but I dont know how the article writer posted by the OP do their calculations because the total marketcap provided on cmc and coingecko says $296Billion which I believe the addition of some OTC trading capital could be the reason why they said the total Bitcoin cap is $300Billion.

Market Cap is the amount you get by multiplying the total number of BTCs mined so far by the current price, so with the current numbers we get $296,737,992,354 ($16,006.69 x 18,538,368 BTC). MC should not be confused with trading volume which is actually difficult to calculate because it depends on the accuracy of the data provided by crypto exchanges, and what is happening in the OTC market is a complete unknown.

According to some speculations, some have estimated that the OTC market is approximately equal to or even larger than the open market - in other words, background trading is very popular.

You are completely correct and the conditions of the OTC trading which is relatively unknown and also have the chance to surpass the open market explained the reason why the article writer stated Bitcoin capital to be $300B instead of the $296B.

[aesma]

Methodology that those coins who have not moved in a certain number of years are considered lost BTC (say 4), is something that someone can use to do their internal analysis, but as you say it's just a guess that has no solid facts behind it. As we have seen lately, coins from 2010 are often the subject of debate, and it is precisely such transactions that show that we cannot really know what has been lost and what has only been kept in the long run.

I'm sure there are a lot of lost coins anyway, but yes pointing them out isn't easy. Most of the time the people who owned these coins either forgot about them, so they're unlikely to remember their BTC address, or they have died, with no plan to pass on the private key.

[jademaxxiss012]

What do we expect after bitcoin reaching to 16K$ and that composes almost half of its market with other altcoins in the crypto market which also had a great and huge market just for altcoins itself for bitcoin. In this case we should be happy that bitcoin had been making a record for one of the biggest asset in the market and that we be confidence that because of these people will love and bitcoin and that wll ensure bull run.

[CryptopreneurBrainboss]

It's just the beginning of a bigger thing to come.  As more and more bigger financial institutions lend support to bitcoin and make it easier for their customers to buy and use bitcoin. I expect bitcoin to move higher up in the financial table maybe 2 years from now.

Exactly, there's more to what we're currently witnessing, basing the judgement on the fact bitcoin is still barely making a stand in the industry and has already achieved all it has in the past few years, it's a positive signs there are greater things coming if only we'll be patience enough to let the technology be and not try to force our centralized ideology on it like the etf and government approval that has been in discussion over the last few years.

I'm pretty sure it'll top that list in next 5-10 years, the asset in the list aren't that mind blowing like bitcoin is. None has the advantage and unique features bitcoin has which is its decentralized nature.

[peter0425]

Yes, you heard it right now Bitcoin becomes the 20th in the biggest assets by marketcao vakue which crossed $300 Billion due to the recent bullish trend on the crypto market.And more importantly bitcoin's market cap value is over the PayPal's market cap value.This analysis was made by the site called Assetdash which keeps tracks the data of global assets.

But bitcoin yet to cross over the two biggest payment processing companies like Mastercar and Visa which are at 18th and 11th respectively. Next biggest crypto in the list is ethereum at the 199th place.

So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?

Reference:  https://decrypt.co/47498/bitcoin-is-now-the-20th-biggest-asset-by-market-cap

Not bad for a 10 years old market.taking the 20th position is such a short time is an achievement for the whole crypto community.

But wait if Bitcoin makes it top 20 now what more back in 2017 when the price reached a 20,000 value and the Whole marketcap of crypto is almost a trillion ?

What do we expect after bitcoin reaching to 16K$ and that composes almost half of its market with other altcoins in the crypto market which also had a great and huge market just for altcoins itself for bitcoin. In this case we should be happy that bitcoin had been making a record for one of the biggest asset in the market and that we be confidence that because of these people will love and bitcoin and that wll ensure bull run.

Actually not to mention the recent take over of Defi projects in which big amount from Bitcoin cap has been transferred for a while.

[hridoyb]

Bitcoin is the most violent coin in the crypto world.No body cannot know what's happing now bitcoin can up anyone time or down anytime.Bitcoin market cap now $328,326,494,260 and it will be 20000$ soon.If bitcoin gets negative feedback from other down anytime otherwise it will be cross the previous record.

[Binaryx.Exchange]

In November, the upward trend in institutional investment in Bitcoin also intensified, which has been stable at a high level for several months in a row. In particular, large investors are showing an increased interest in buying Bitcoin. It is the large investors who show an increased interest in buying Bitcoin. In particular, billionaire Stanley Druckenmiller publicly talked about his investments in Bitcoin this week.

Open interest in Bitcoin futures on CME is close to $1 billion. In October alone, this figure rose by 169%. It is noteworthy that the number of large futures holders (contracts from 25 BTC) increased by 126% compared to 2019. According to Arcane Research, it is the new entrants who have entered the crypto market amid the current surge in Bitcoin and the growing fear of lost profits that fuel the open interest in Bitcoin.

[NelfiNovita]

So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?

bitcoin is not a seasonal bubble because bitcoin price depends on both sellers and buyers in the crypto market.  what is clear is that for now the price of bitcoin continues to rise, we do not know how long the price of bitcoin will continue to rise and there is nothing impossible that the price of bitcoin will go down again because this is a trading system.

[Binaryx.Exchange]

Bitcoin is the most violent coin in the crypto world.No body cannot know what's happing now bitcoin can up anyone time or down anytime.Bitcoin market cap now $328,326,494,260 and it will be 20000$ soon.If bitcoin gets negative feedback from other down anytime otherwise it will be cross the previous record.

You are right, in terms of technical analysis, we are likely to cross the 20,000 mark

[bitbollo]

Yes, you heard it right now Bitcoin becomes the 20th in the biggest assets by marketcao vakue which crossed $300 Billion due to the recent bullish trend on the crypto market.And more importantly bitcoin's market cap value is over the PayPal's market cap value.This analysis was made by the site called Assetdash which keeps tracks the data of global assets.

But bitcoin yet to cross over the two biggest payment processing companies like Mastercar and Visa which are at 18th and 11th respectively. Next biggest crypto in the list is ethereum at the 199th place.

So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?

Reference:  https://decrypt.co/47498/bitcoin-is-now-the-20th-biggest-asset-by-market-cap

after pandemic event and several year of "stable" value bitcoin isn't a seasonal bubble.
we have seen the value grow stepwise and it's becoming bigger!

most of altcoins unfortunately have this scenario of seasonal bubble just few of them are able to become widely accepted and are not just a pump and dump scheme.

[Walterhank]

As far as the market cap is concerned, yes it is on the rise and as of now, it has surpassed even major companies. However, changing the whole economic structure is totally another thing that doesn't seem possible for at least a decade or two. If we are the luckiest people on the planet then maybe three to four years.