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5 Interesting Facts about Bitcoin
- Published December 04, 2024 12:55AM UTC
- Publisher Steve Torso
- Categories Capital Insights, Landing, Trending
At Emergence 2024, I outlined how when it comes to innovation, first, innovators equal the incumbent, then they 10X beyond it.
To celebrate this trend, here are 5 fun facts you may not know about the rise of Bitcoin and how it compares with incumbents, plus a fun fact about Coinbase:
- Pound for Pound: Bitcoin’s total value has surpassed the monetary base of the British Pound. Who would have thought a digital currency could outweigh the currency of a major global economy?
- Golden Opportunity: Bitcoin ETFs are catching up to Gold ETFs faster than a sprinter on rocket skates. They’ve achieved in months what took gold ETFs decades. Talk about a digital gold rush!
- BlackRock’s iShares Bitcoin ETF (IBIT) surpassed the AUM of its gold counterpart iShares Gold ETF (IAU) in less than 10 months, a feat that took the gold ETF 20 years to achieve.
Nasdaq Knockout: Coinbase’s market cap ($73.43B) has now surpassed that of Nasdaq Inc. ($48B). It’s like a student has become a master in the world of financial exchanges!
Two Mining Giants go Head to Head – Bitcoin vs BHP: Bitcoin’s market cap (US1.9T) is now 9.5X bigger than mining giant BHP’s (US$200bn). It’s like David became Goliath but with more zeroes and fewer pickaxes.
Index Invasion: Bitcoin’s valuation is approaching that of major stock indices like the FTSE or ASX. It’s as if a digital upstart crashed the party of traditional finance’s most exclusive club.
Bitcoin vs Nvidia: In the last week, Bitcoin is trading between $30 to $40 billion dollars worth of volume in every 24-hour period. This is double the amount of trading volume of Nvidia
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