In spite of the ridicule of the majority of financial analysts in 2017 bitcoin rose sharply, and the indicators of its market capitalization surpassed the majority of corporations such as Disney, Mastercard, Boeing, IBM, and McDonalds.
One of the criteria for financial evaluation of the enterprise is the calculation of the total cash value of all property. Successful in the world of Finance and large corporations, this calculation involves determining the so-called market capitalization — smart term that refers to the market value of the company’s shares in circulation. And many financial analysts it is unpleasant to realize that the market capitalization of bitcoin was higher than most large corporations.
More than the Mouse House and MC duck
The lucky ones who bought bitcoins in the beginning of the year, enjoy their current price. At the end of 2016 bitcoin was worth about $ 800. Recently, the currency crossed the mark of 9 000 and have reached level 9 $ 800.
So what does the milestone of nearly $ 10,000 for bitcoin in terms of a market capitalization of cryptocurrencies? The full cost of bitcoin has reached staggering heights — 160 billion U.S. dollars. It still does not allow bitcoin to enter the top ten of companies with the highest capitalization in the world, but the 35-th place — already a good result.
If it is a hoax, a fraud worth $ 160 billion
Now the world echoes at odds gnashing of teeth of many stockbrokers and financial analysts, who have long underestimated the bitcoin (and probably in a hurry to buy some digital currency for diversification of the investment portfolio). The market capitalization of bitcoin is not as big as Apple (873 billion), Google (Google 715,8 billion), Microsoft (640 billion dollars) or Amazon (531 billion dollars), but a fairly well-known company was left behind.
From what large corporations market capitalization lower than bitcoin? Check out the interesting list:
Mastercard (158 billion), Pepsico (156,8 billion)Boeing (152,5 billion)Disney (151 billion)IBM (143 billion)3M (137 billion), McDonalds (135 billion)Nvidia (124 billion)Nike (96 billion), Electronic Arts (33 billion)Target (30 billion)
It seems that some financial analysts are still trying to comprehend the rise of bitcoin. Senior market analyst company ETX Capital, Neil Wilson, expressed this assumption after the Chicago Mercantile exchange announced the launch of futures trading in bitcoin in December:
“It is very important the recognition of bitcoin as a market currency. At the moment, the market capitalization of bitcoin exceeds the performance of IBM, Disney or McDonald’s”.
He also added:
“But supporters of the traditional system is difficult to understand the situation. In contrast, commodity, currency, being the owner of bitcoins is, in fact, to be a shareholder of the company, which will release only 21 million shares and not a penny of dividends.His only value is that someone even more crazy might want to buy it more expensive. No intrinsic value is difficult to stop treating bitcoin as a huge financial bubble”.
Nevertheless, one cannot deny the extraordinary growth of bitcoin in 2017. Just a few years ago, no one could not assume that bitcoin will be worth more than IBM, Boeing, Disney and Mastercard.