Bitcoin to $30 billion exceeded the market capitalization of General Electric, once the largest company in the world

Bitcoin to $30 billion exceeded the market capitalization of General Electric, once the largest company in the world

GE, with annual revenues of $123 billion and 295 000 employees worldwide, it remains the leading conglomerate in the United States.

In July 2016, the market capitalization of GE for a short time exceeded $300 billion, approaching the market capitalization of other major firms, such as JPMorgan. But in 2015 the market capitalization of GE fell by nearly 50%, and the capitalization of Bitcoin has increased from $2.5 billion to $85 billion in 74 times.

With $160 billion market capitalization of Bitcoin has just exceeded General Electric. Yes, the same GE: Established in 1892; the Once largest company in the world; 295 000 employees,$ 123 billion in revenues

Bitcoin as a cryptocurrency and also as a means of accumulating savings should be compared with other assets, securities and currencies, such as gold and reserve currencies. But it is important to note the rapid growth of BTC in comparison with companies in leading sectors because of its transformation in the financial industry was really spectacular.

This year BTC has surpassed and leading Fiat currency at the index M1. This week the market capitalization of Bitcoin exceeded the money supply of the British pound.

Many experts and analysts, including the legend of hedge Fund billionaire Mike Novogratz, stated that the price of BTC could easily reach $40 000 by the end of 2018, or $1 trillion market capitalization. Novogratz said:

“Bitcoin in late 2018 could cost $40 000. It is quite likely… Distinguishes these coins from other commodities to a limited number. There’s no response on the supply side. Bitcoin – the dream of the speculators. When there is a purchase, a response from the supply side is not received. It sharpens every movement. This will occur on the rise. There will be a correction at 50%. It goes downhill”.

If the price will go up to $45 000 and the market capitalization of cryptocurrencies will reach $1 trillion, analysts begin to compare the Bitcoin assets-havens such as gold.

Currently the entire Bitcoin market is about 3% multitrillion the gold market. But, if he continues to increase in value to $40,000, as noted Novogratz, soon will compete with gold and reserve currencies.

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