Bitcoin Reaches $100 Billion Market Cap in 8 Years While It Takes Apple 21 Years, Will Blockchain Beat Wall Street and Silicon Valley?
Tech giants in North America are in full swing. Amazon’s market capitalization has surpassed Washington GDP, and Google and Apple have surpassed all financial stocks of the Eurozone and Japan by market cap. Top 5 of the U.S. stock market has been dominated by tech giants for a time, and Facebook is in sixth place because of the recent scandal.
People say it is inevitable, while some ridicule that it is another bulk of bubbles. In any case, these Silicon Valley guys in jeans have beat the well-dressed Wall Street elite.
It is the same case with blockchain.
The market capitalizations of Bitcoin, Ethereum and Ripple have crossed the line of $100 billion for a time within a period far less than these tech giants. Blockchain, the underpinning technology of these cryptocurrencies, has gradually been applied to social practice.
Blockchain fanatics have been making predictions that a new hegemon in blockchain sector which rivals traditional tech giants is springing up. It is the traditional internet, or “classic internet” (coined by Chinese blockchain startups), that blockchain is targeting.
It is still early to predict that blockchain will beat tech giants of Silicon Valley, but the change is happening. A recent research focusing on blockchain startups in North America conducted by Liantazhiku (literally a blockchain think tank) presented a list of top 20 blockchain enterprises in North America, along with state policies and celebrities’ voices on cryptocurrencies. It is revealed that America and Canada seem to be more tolerant over this issue than Mexico.
It is notable that in 2017 bitcoin crossed the line of $100 billion in market cap with 8 years, while it took most tech giants some 20 years as 23 years for Microsoft, 21 years for Apple, and 16 years for Amazon, and faster for the upcoming startups represented by Google and Facebook.
The research also presents the top 20 blockchain enterprises in North America, among which most are engaged in crypto-related business like exchange and wallet development. 14 out of the top 20 are based in America. 84% of these enterprises have moved into the series B financing. The financing amount ranges from millions up to $ 100 million, and the financing champion goes to R3 CEV, a distributed ledger consortium with $107 million investment, and next comes Coinbase, the crypto exchange appearing in the Silicon Valley’s opening sequence, and a Canada-based mining company named Hive Blockchain Technologies wins the third place in financing amount.
Regarding to celebrities’ attitude towards bitcoin, Warren Buffett, Soros ad Greenspan (former FED chairman) are bearish on it, while Jamie Dimon (CEO of JP Morgan), Goldman Sachs’ Jeff Currie and Jeff Currie (co-founder of Paypal) are more friendly towards it.