From Howard Lindzon’s post Apple is my Favorite Crypto Asset comes a reminder of how small Bitcoin is compared to other asset classes and even single companies, despite the seemingly unending tear it’s been on this year.
At $7300, Bitcoins now are valued at over $120 billion.
Apple this morning is just 7.5 times more valuable than all the Bitcoins in the world.
I hope Bitcoin passes Apple in terms of total market value as I still hold some, but I like the idea of owning Apple just a little more at this morning’s ratio.
PS – I heard tonight from a Coinbase investor that 100,000 people opened accounts today. As Bitcoin continues to rise, I check it’s price first on Stocktwits when I open the app. We have entered a very strange point in time where the Bitcoin rise might just be pulling the general markets along.