Search Bitcoin now bigger than Bayer, Goldman Sachs & Nike

Bitcoin now bigger than Bayer, Goldman Sachs & Nike ...
rt.com 13/10/2017 Economy

Keywords:#Bitcoin, #CNBC, #China, #Chinese, #Goldman_Sachs, #Japanese, #Mitsubishi, #Nike, #Rt.com, #South_Korean, #UPS, #US

he value of the world’s largest cryptocurrency bitcoin has broken the $5,800 mark, hitting another all-time high before retreating to the $5,600-$5,700 level, still close to the maximum.
Its market capitalization is approaching $97 billion. If bitcoin were a company, its market cap puts it in the same league as some of the world's biggest corporations.
The cryptocurrency would be in 77th in PwC's list of the top 100 corporations, bigger than Bayer, Goldman Sachs, UPS, Nike, and Mitsubishi.
Bitcoin is up over 480 percent year-to-date.
The reason behind the rally is talk China may reverse the ban it imposed on cryptocurrency exchanges last month. The Chinese central bank also declared initial coin offerings (ICOs) illegal and banned fundraising through ICOs.
After the Chinese ban, the Japanese yen consolidated the global trade volume, with 57 percent of bitcoin’s fiat exchange volume. The US dollar and South Korean won follow.
Some investors say bitcoin bulls could test a new ceiling of $6,500. They are also buoyant that banking giant Goldman Sachs is likely to start trading bitcoin.
Mike Novogratz, Galaxy Investment Partners, recently told CNBC that bitcoin can hit the $10,000 mark soon, but with a warning.
“Remember, bubbles happen around things that fundamentally change the way we live,” he said.
“The railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.”
Bitcoin is likely to become "the biggest bubble of our time," he added.
--- ---
...

Read more from Source »

Related articles based on keyword density
GLOBAL TOP 1000 WEBSITES 2016 – Ratak IT...
ratak.ir 16/03/2017 News
Ratak introduces global Top Websites of 2016 Data for table Top201702 1 1host2u.ir 1host2u.ir,Abarkooh,Armenia,Bahram 2,Bahram 3,Britain,Caesar,Carus,...View Details»

IRAN NUCLEAR TALKS STUMBLE, EXTENDED UNTIL JULY ...
hosted.ap.org 24/11/2014 News
BY MATTHEW LEE AND GEORGE JAHN ASSOCIATED PRESS VIENNA (AP) -- Still facing significant differences between the U.S. and Iran, negotiators gave up on...View Details»

US faces rival Iran in its first attempt in 40 years to export oil ...
thestar.com.my 28/07/2014 Economy
SINGAPORE: The United States faces an awkward rival in its first attempts in 40 years to export crude oil - Iran. Iran, whose economy has been throttl...View Details»

Iran Is Ditching The Dollar In Foreign Trade - Business Insider...
businessinsider.com 28/01/2015 Import-Export
*** Russian President Vladimir Putin, right, with his Iranian counterpart Hassan Rouhani in 2014. By Elena Holodny Jan. 27, 2015, 8:47 AM Iran ...View Details»

China's 'boundless' bitcoin boom is driven by savings ethics — RT Busi...
rt.com 16/11/2013 Economy
The opportunities for Bitcoin in China are “boundless” as the Chinese, famous for their big saving, are now using the cryptocurrency to save and inves...View Details»


EOF