Another day, another dollar, another All Time High in both price and market cap. It’s all starting to get a little bit… meh. Well, as “meh” as it can get, knowing that our magical imaginary money is suddenly worth even more.
I could write yet another article, quoting a few figures, then padded out with a bunch of conjecture as to what happens next. But instead, I’m going to put on my big dreamer’s hat, and imagine what I could do with all of it.
First, the Figures
Well, what did you expect? If I don’t quote them then we can’t make a comparison.
Bitcoin hit a record high of $4483.55 on Tuesday. It dipped a bit, later in the day, even dropping back below $4000 for a short while, before rallying back to around $4150. This means our market cap reached $73.5 billion dollars at one point.
That’s a Lot, Isn’t It?
Yep. And trying to imagine that amount by drawing comparisons with normal stuff, would be like… well, let’s try it and see.
With cars, you aren’t even touching the sides. The world’s most expensive production cars come in at under $5m. Imagine 15,000 Koenigsegg CCXR Trevitas. Doesn’t help, does it? Even taking classic cars is only better by a factor of ten. 2,000 1962 Ferrari 250 GTOs at $38.5m a piece?
Real Estate Then? Yachts?
The most expensive home in the world cost a cool $1 billion dollars. Although at 27 stories it’s more of a skyscraper than an average family home. And you’d have to move to Mumbai to take up residence.
If you don’t need the whole building and prefer Monaco to Mumbai then $335 million will buy you a new penthouse in the Tour Odeon. So 220 penthouse apartments of 3000 square meters each? Nah.
Whilst we are in Monaco, the most expensive private yacht in the world was $4.5 billion. It isn’t that big really (30.5m), but it’s made of gold, so that doesn’t really help us to visualize. Abramovic’s Eclipse, at number two, is over 5 times bigger, but only $1.9 billion. 38 massive superyachts? Are we getting close yet?
Help Us Out Here
I can’t. The most expensive private island I can find is only $160 million for 110 acres of Thailand.
For that kind of money, we are talking about big corporations. A few days ago Bitcoin could have bought you PayPal.
RIP PayPal pic.twitter.com/7vq1VJQSnt
— CRYPTO CO฿AIN (@CryptoCobain) August 14, 2017
Today’s high puts us just a shade short of Adobe ($73.6 billion) and Netflix ($73.8 billion).
By World Bank figures, Bitcoin’s market cap is more than the GDP of Oman… and they’re floating on oil!
Please Just Give Me Something I Can Relate To
Okay, how about this. If rumor is correct and Satoshi has 1M bitcoin, that makes him now richer than Donald J Trump.
If speculation of 1M BTC ownership is correct, Satoshi Nakamoto is now wealthier than @realDonaldTrump
— Jameson Lopp (@lopp) August 15, 2017
So, we’ve settled on 21 of the Donald then?… Or 7 if you ask him. Because, of course, Trump’s accounts are the only secret bigger than Satoshi.
What would you buy if you had all the bitcoins? Let us know in the comments below.
Images courtesy of Pixabay, CoinMarketCap