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Bitcoin’s Market Cap Reaches An All-Time High

According to market data open to the community

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Bitcoin’s Market Cap Reaches An All-Time High

According to market data open to the community, Bitcoin’s market cap reached an all-time high, overshadowing the highest figure of $ 328.8 billion set on December 16, 2017, according to Coin Metrics.

Bitcoin’s Market Cap

Market value is determined by multiplying the individual price of an asset by its total supply. At the time of this writing, the price of Bitcoin reached $ 17,756, according to cryptocurrency exchange Bitstamp, and the supply reached 18,546,019.15 BTC, according to Bitcoin data collector Clark Moody. With the total listed supply at the listed price, Bitcoin has a market cap of $ 329.3 billion.

While the price of a single Bitcoin, measured in USD, tends to attract the most widespread media attention, the market cap of the network may be an even more critical measure of its value. It shows the relative value of Bitcoin as a system, as opposed to the value of a single bitcoin.

Market value

Market capitalization is also a useful metric for comparing Bitcoin to other financial assets, companies or value systems.

Looking at the figure given above, Bitcoin’s market value has increased significantly. While this situation represents the highest value of any cryptocurrency, the figure still pale when compared to many industries and legacy financial assets.

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