Bitcoin is now a TRILLION dollar asset!

[thecodebear]

High $53k's right now and its right at $1 trillion market cap!

When i first bought Bitcoin in Nov 2013 it was about $10 billion. now a trillion!

[jackg]

I joined here when the market cap was $4.6bn... Doubt we'd have believed anyone bitcoin would do 24500% in that (fairly) short time of 6 years...

It's an impressive high and it doesn't look like we're losing momentum either (2 trillion+ feels quite likely now - or 6 ). 

[thecodebear]

I joined here when the market cap was $4.6bn... Doubt we'd have believed anyone bitcoin would do 24500% in that (fairly) short time of 6 years...

It's an impressive high and it doesn't look like we're losing momentum either (2 trillion+ feels quite likely now - or 6 ). 

Totally see $2 trillion and potentially even $3 trillion (though perhaps for a very short time/peak) happening this year. Far higher in the years to come though

[Poker Player]

I am not as impressed by the market cap as you are, probably because I came to know bitcoin later. What does impress me is the progression. All indications are that it is going to eat Google, silver, Microsoft and Apple in a relatively short time. Gold will take longer, I understand. A friend was telling me the other day that he doesn't want to buy Bitcoin because the price is too high.

[hatshepsut93]

Bitcoin was at 20k 3 years ago and everyone celebrated and then it crashed hard. I understand that this is a cool milestone, but it's really not that significant. A stable price for $1 trillion marketcap would be indeed remarkable, but there's no signs that Bitcoin will be stable anytime soon. We'll see Bitcoin's marketcap gaining billions and then losing billions.

[thecodebear]

Bitcoin was at 20k 3 years ago and everyone celebrated and then it crashed hard. I understand that this is a cool milestone, but it's really not that significant. A stable price for $1 trillion marketcap would be indeed remarkable, but there's no signs that Bitcoin will be stable anytime soon. We'll see Bitcoin's marketcap gaining billions and then losing billions.

Bitcoin will never be stable. Its price comes from the free market. It wasn't made for stability. It was made for value growth, self-banking/secure/decentralized/censorship-resistance, and for transacting. Stability in price was never part of the deal.

$1 trillion is very significant obviously. There's only seven other trillion dollar assets in the world: gold, silver, and 5 companies.

[ampere]

High $53k's right now and its right at $1 trillion market cap!

When i first bought Bitcoin in Nov 2013 it was about $10 billion. now a trillion!

This tells so much about the growth and popularity that bitcoin has had over the decade as well as the masive adoption of bitcoin and the blockchain. More marketcap means more investment which means more people trade, buy, and sell bitcoin. This is good and great for the global economy. I see such growth following with etherum and bnb too

[aoluain]

I joined here when the market cap was $4.6bn... Doubt we'd have believed anyone bitcoin would do 24500% in that (fairly) short time of 6 years...

It's an impressive high and it doesn't look like we're losing momentum either (2 trillion+ feels quite likely now - or 6 ). 

imagine back then if someone had said to you "6 years from now Bitcoin will be $50,000"
That would be hard to imagine. Bitcoin is looking now like we can throw any number at it and
its likely to reach it.

[jossiel]

I can't still believe that we're this high.

imagine back then if someone had said to you "6 years from now Bitcoin will be $50,000"
That would be hard to imagine. Bitcoin is looking now like we can throw any number at it and
its likely to reach it.

And that's applicable today, when we've been telling people to buy from $3,000-$10,000, they're telling the same thing that bitcoin is going to zero or it's not yet the dip.

Well, that's a lesson for sure and they can't ignore those gains anymore and instead, there are people that always buys at the top but still managed to take profit by risking it.

We thought that $40,000 would be the highest and then here's the $53,000-$56,000. And we'll have the same thought once it touches double as we're today.

[Baofeng]

Yeah, impressive to see a $1 trillion market cap, but anything can happen though, we can lose it overnight or gain another billion the next day. 2017 the whole crypto market cap is $1 trillion if I'm not mistaken and it goes kaput in the next 2-3 years of bearish market, and now now recovered and goes on even more. Just shows that the market of bitcoin is very much volatile and we have to live with that.

[wheelz1200]

High $53k's right now and its right at $1 trillion market cap!

When i first bought Bitcoin in Nov 2013 it was about $10 billion. now a trillion!

Yeah its kind of unbelievable that bitcoin is staging right at the back of silvers market cap, Apple, etc..got awhile to take over gold but one day...one day

[AmoreJaz]

Yeah, impressive to see a $1 trillion market cap, but anything can happen though, we can lose it overnight or gain another billion the next day. 2017 the whole crypto market cap is $1 trillion if I'm not mistaken and it goes kaput in the next 2-3 years of bearish market, and now now recovered and goes on even more. Just shows that the market of bitcoin is very much volatile and we have to live with that.

but the scope of bitcoin right now is different 2-3 years ago. financial institutions, popular companies are joining crypto, which makes it more solid in the market. they now believe the capability of crypto in the financial market. though as you said, anything can happen. so as a user, you should have contingency plan in place.
we are living in a world full of surprises. so it only right to prepare for whats to come.

[mk4]

Bitcoin will never be stable. Its price comes from the free market. It wasn't made for stability. It was made for value growth, self-banking/secure/decentralized/censorship-resistance, and for transacting. Stability in price was never part of the deal.

It can be stable; at least stable enough to be viable to be used as a day-to-day currency that's not going to move +-10% in a day. It's just that it's going to take a while. Bitcoin can come to the point that it will be sufficiently stable, but at the same time still be in an upward trajectory in the long term.

[pooya87]

That's only impressive if you call bitcoin an "asset" which you did! And compare it with stocks and stuff like that. I keep saying this that bitcoin is a currency and if you want to compare it then compare it with currencies. And since it is a global currency made for everyone not just people in one country it has to be compared with the total money supply.

Now when you say there is a trillion dollar worth of bitcoin around while there is multi quadrillion dollar worth of fiat around you see that what bitcoin has reached is just the beginning.

[orions.belt19]

Yeah, impressive to see a $1 trillion market cap, but anything can happen though, we can lose it overnight or gain another billion the next day. 2017 the whole crypto market cap is $1 trillion if I'm not mistaken and it goes kaput in the next 2-3 years of bearish market, and now now recovered and goes on even more. Just shows that the market of bitcoin is very much volatile and we have to live with that.

but the scope of bitcoin right now is different 2-3 years ago. financial institutions, popular companies are joining crypto, which makes it more solid in the market. they now believe the capability of crypto in the financial market. though as you said, anything can happen. so as a user, you should have contingency plan in place.
we are living in a world full of surprises. so it only right to prepare for whats to come.

Bitcoin has way more support now compared to the 2017 bull market. Back then there was a lot of FUD and panic sellers brought about the scam ICOs. Right now there's more positivity and even acceptance from big institutions. Bitcoin is still very volatile and there is still some hesitation from the general public. While it is expected for the market to go bear at some point especially with all this positivity, I don't think it will drop as significantly as it did in 2018. Keep in mind though that we should always have an exit plan.

[thecodebear]

Bitcoin will never be stable. Its price comes from the free market. It wasn't made for stability. It was made for value growth, self-banking/secure/decentralized/censorship-resistance, and for transacting. Stability in price was never part of the deal.

It can be stable; at least stable enough to be viable to be used as a day-to-day currency that's not going to move +-10% in a day. It's just that it's going to take a while. Bitcoin can come to the point that it will be sufficiently stable, but at the same time still be in an upward trajectory in the long term.

It can be more stable. It can never be stable. Volatility will go down as the market matures which just means the market cap gets larger and therefore harder to move around a lot. Volatility has continually gone down over the long term as Bitcoin has gotten bigger and bigger and that will continue. But yeah like you say its long term upward price trajectory will continue even as short term volatility falls over the years, so I don't see that creating an atmosphere where suddenly people are gonna be like hey lets all spend our bitcoin on a day to day basis rather than holding. Holding will still generate value so it will always be preferable to spending.

Spending Bitcoin has more to do with when each person is happy with what they've made and spending some of that on something, and has less to do with volatility. Knowing that Bitcoin could be 2% higher or lower tomorrow compared to 10% higher or lower tomorrow doesn't make a difference in spending - you still get the purchasing power of whatever the price is at the moment you spend it. You're only going to make the decision to spend if you're happy about how much value Bitcoin has already created for you and you feel comfortable spending some of that value, volatility doesn't come into play in that decision.

Short term volatility is more of an impediment to getting PAID in Bitcoin. You don't want your paycheck in a month to be worth 20% less than what it was when you got it. Make a purchase is instantaneous so volatility doesn't play a role in it, but you don't spend your paycheck the moment you get it so that is where volatility affects things. What we could see as Bitcoin matures and becomes more stable is more people taking their paychecks in Bitcoin. But the hurdles to spending are not volatility but tax rules, merchant acceptance, and tx fees. If Bitcoin merchant acceptance becomes ubiquitous, if LN became usage became ubiquitous so tx fees were not an issue, and if spending Bitcoin didn't incur capital gains taxes then Bitcoin would be ready to be a daily spendable currency, but only by people who were already happy with how much value they'd already generated through Bitcoin.

[Lucius]

imagine back then if someone had said to you "6 years from now Bitcoin will be $50,000"
That would be hard to imagine. Bitcoin is looking now like we can throw any number at it and
its likely to reach it.

Some had very bold predictions even in 2013 - so even though it's not 1 trillion MC - here's what the Winklevoss twins were saying at the time:

The twins, who are major investors in bitcoin after becoming wealthy from an early partnership with Facebook founder Mark Zuckerberg, told CNBC at the Dealbook conference in New York that a $400bn market cap for BTC would be a “small bull case scenario”.

They were not far from the truth at all, because now we have something that can be called without any hesitation “big bull case scenario”. I well remember a time when many doubted that even $1000 would be something that would happen again - and few even thought about the numbers we have today.

My favorite when it comes to long-term forecasts (Tim Draper) said in 2018 that he predicts a price of $250 000 by 2022 - and he also accurately predicted back in 2014 that 1 BTC would reach at least $10 000 by 2017 - and we all know that's exactly what happened.

[samson]

imagine back then if someone had said to you "6 years from now Bitcoin will be $50,000"
That would be hard to imagine. Bitcoin is looking now like we can throw any number at it and
its likely to reach it.

Some had very bold predictions even in 2013 - so even though it's not 1 trillion MC - here's what the Winklevoss twins were saying at the time:

The twins, who are major investors in bitcoin after becoming wealthy from an early partnership with Facebook founder Mark Zuckerberg, told CNBC at the Dealbook conference in New York that a $400bn market cap for BTC would be a “small bull case scenario”.

They were not far from the truth at all, because now we have something that can be called without any hesitation “big bull case scenario”. I well remember a time when many doubted that even $1000 would be something that would happen again - and few even thought about the numbers we have today.

My favorite when it comes to long-term forecasts (Tim Draper) said in 2018 that he predicts a price of $250 000 by 2022 - and he also accurately predicted back in 2014 that 1 BTC would reach at least $10 000 by 2017 - and we all know that's exactly what happened.

Did he make it happen is the golden question?

[Sithara007]

Bitcoin has come a long way. When it was first traded in an exchange (New Liberty Standard), the exchange rates were $1 = 1,300 BTC. Now the prices have risen by more than 60,000,000 times. No asset (equity, bullion, real estate.etc) in the history of mankind has given this sort of returns. I have heard about 100 times or even 1,000 times return. But 60 million times?

I will tell about an incident which comes close. Back in 1998, Larry Page and Sergey Brin offered to sell Google to Excite for $750,000. But their proposal was then rejected by Vinod Khosla and George Bell. The current market capitalization of Google is $1.41 trillion, which represents an increase of 1.88 million times. This is the most extreme case I have seen from the stock market. But even that doesn't come close to that of Bitcoin.

[777Jolami]

High $53k's right now and its right at $1 trillion market cap!

When i first bought Bitcoin in Nov 2013 it was about $10 billion. now a trillion!

Yes, the market is the most active I've seen.
1. Bitcoin has historic ATH - market cap ~ 1000 billion dong, ~ 60% of total market cap (1000 billion / 1700 billion). This is the (relative) all-time high of cryptocurrency.( same Apple, Amazon, google, Microsoft... right now)
2. The highest bitcoin value of all time (Up ~ 500% year)
Although this is a really impressive number, the macro always has a basis for it to continue to go up vertically.

https://www.cryptoglobe.com/latest/2021/02/binance-ceo-cz-explains-how-price-of-bitcoin-could-even-go-as-high-as-10-million/

We'll see the next ATH very soon, guys!