• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Bitcoin's Meteoric Weekly Rise Results in Market Cap Bigger Than Nike, Bayer, Goldman Sachs
Advertisement

Bitcoin’s Meteoric Rise Results in Market Cap Bigger Than Nike, Bayer, Goldman Sachs

Matthew Tompkins by Matthew Tompkins
5 years ago
in News, Bitcoin, Bitcoin Price, Markets and Prices, News teaser
0
Advertisement

Bitcoin’s orbital trajectory hit a high of $5800 this week, giving the coin a market cap valuation close to $97 billion, listing the digital currency ahead of companies such as Goldman Sachs, Nike, and Bayer.


Bitcoin’s rise continued apace yesterday, breaking through the $5,000 mark before going on to hit an all-time high of $5,800. The resulting weekly chart is pictured below showing the tallest weekly green candle growth in the coin’s history. The unprecedented highs keep on coming, and if investors such as Mike Novogratz are to be believed it is only a matter of time before Bitcoin hits $10,000 and higher.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Biggest weekly green candle in the history of Bitcoin pic.twitter.com/uApt0Xc8ef

— Crypto฿ull [NO2X]‏ (@Crypto_God) October 13, 2017

In an interview with CNBC’s Fast Money last week,  Novogratz also admitted that Bitcoin could be one of the largest bubbles in history, however, he thinks there is still plenty of room left to grow for the coin as a greater number of investors are still eager to invest in the revolutionary technology.

One Giant Leap For Bitcoin

#Bitcoin now bigger than Bayer, Goldman Sachs & Nike, breaks $5,800 mark https://t.co/XRdHmCBCIL pic.twitter.com/gGFVNrHVLd

— RT (@RT_com) October 13, 2017

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

RT.com tweeted that Bitcoin’s market capitalization is now approaching $97 billion – a staggering figure for the open source, decentralized alternative currency. If Bitcoin were a company it would rank 77th in Price Water House Coopers list of the global top 100 companies by market capitalization. The list has Apple Inc, Alphabet, and Microsoft in the top 3 positions, all technology companies, but Bitcoin would rank ahead of the Goldman Sachs Group Inc, Bayer, and Nike. Perhaps another sobering fact is that Apple Inc was worth $94 billion in 2009,  that is nearly 3 billion dollars behind Bitcoin at its current market capitalization.

Could Bitcoin Just Be a Giant Bubble and Is it Really a Bad Thing?

Bubble or Bull Market?

Bitcoin’s continuing rise has so far silenced its critics, now presumably sat aghast at this behemoths rise. JP Morgan CEO Jamie Dimon himself recently announced last week that he will say nothing more about Bitcoin. As grassroots movements go it has certainly captured a fair share of peoples imaginations too with its technological possibilities, figures such the IMF’s Christine Lagarde and Fidelity Investments Abigail Johnson all have their reservations but recognize Bitcoin’s underlying technological promise rooted its decentralized blockchain, giving it an essentially unhackable protocol. However, with speculation also comes consolidation, in the words of Mike Novogratz:

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.

Will Bitcoin continue to rise further? Will there be a consolidation period or is the bubble ready to pop? Let us know what you think in the comments below.


Images courtesy of Pixabay, Wikimedia Commons

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Matthew Tompkins

Matthew Tompkins

Related Posts

Bitcoin this week

Bitcoin And Crypto This Week: Here’s What Will Be Important

1 hour ago
Bitcoin price

Bitcoin Price Nears $24,000 Mark – Can Bulls Push BTC To $25K This February?

6 hours ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

22 hours ago
Institutional Bitcoin Buying Is a Positive Sign, Suggests Matrixport

Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport

2 days ago
Bitcoin BTC

Inflation May Be In A Lull, What Does That Mean For Bitcoin?

3 days ago
Bitcoin Lightning Network POS Clover

Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Binance Coin (BNB) Trading Volume Pumps By $7 Million While...

    2 hours ago
  • Polkadot (DOT) sees 5% Growth, why Cardano (ADA) and...

    3 hours ago
  • More than a trillion dollars moved in Litecoin (LTC)...

    3 hours ago
  • Moralis has revealed the integration of Web3 API with Aptos...

    4 hours ago
  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.