Institutional Investors

Bitcoin Tops $13,000 - Bigger Than Citigroup

For the first time in history, the price of Bitcoin has surpassed $13,000 (rising from $12,000 in less than a day). This pushes Bitcoin's market cap to around $220 billion (above that of Citigroup) as the market cap of the entire cryptocurrency space is now bigger than JPMorgan.

financedude85's picture

Though bitcoin’s existence spans a relatively short 10-year period, it has gone through many stages of growth. The price of one bitcoin has skyrocketed and crashed several times, but the cycle of interest has always seen its trajectory rise upwards over time. This steady (and often volatile) trend has taken the seminal cryptocurrency to new heights, but its relationship with participants is always changing.

JPMorgan Has Some Bad News For Bitcoin Bears

According to JPMorgan, since 2009, the cumulative inflow into cryptos has been a paltry $6bn, well below the current market cap of $330bn. This means that as new capital flows into the crypto space, the potential price gains are unprecedented...

Frontrunning: November 30

  • The thinking behind Kim Jong Un's 'madness' (Reuters); U.S. warns North Korean leadership will be 'utterly destroyed' in case of war (Reuters)
  • Senate tax drama enters complicated end-game gambit (Reuters)
  • Corporate Tax Rate in Flux as Senate Prepares to Vote (WSJ)
  • The Senate Tax Bill Has Something for Every Republican to Hate (BBG)
  • Bitcoin Mania: Even Grandma Wants In (WSJ)