This month, Bitcoin’s “market capitalization” is around 50 billion dollars.
What is the significance of it?
Bitcoin was 1k early in the year. Now the price is 3k.
The overall market dominance fell below 30% then now it is close to holding half again. But still this isn’t significant or give much meaning.
We should compare with real world tech stocks, tech capitalization.
I had previously did some quick compare with Facebook.
Now let’s look at a bit more subjective narrative. If bitcoin is Microsoft, if bitcoin is the OS that most common people had to use just like Microsoft for ten years, twenty years. Corporate accounts.
Or if bitcoin is more like Oracle. Hidden behind the scenes. We have heard Oracle mainly from the ads or the yacht racing event. What else. Not much. But it was a significant behemoth. At one stage, the CEO Larry Ellison was opening “fighting” Gates.
So let’s do both.
Microsoft is about 450 billion.
Oracle is worth about 200 billion.
Bitcoin is 45 billion.
Mathematically : bitcoin is a tenth of Microsoft and a fifth of Oracle.
Still years or dog years away?
The next milestone is around the corner. 100 billion. To hit that, bitcoin will be looking at 6000 dollars.
One more company comparison. If bitcoin was the Internet of money, then let’s find that Internetworking company. CISCO. Currently at 150 billion market capitalization. Three times of bitcoin.
So if bitcoin was coined that way, it could and should be aiming to go Cisco and will get to 150 billion market capitalization soon. Valuing it at 8500 dollars per bitcoin.