Tuesday, June 27, 2017
As the price of Bitcoin soars higher and higher ($2,647.57 as of this writing), more and more people are beginning to take note. The surge in interest and demand for more information are driving the research departments at some of the world's biggest financial institutions to begin covering the cryptocurrency and its competitors. Proponents say that the new blockchain technology will revolutionize not only finance, but will have a profound impact on a myriad of other industries as well. Naysayers argue that as a cybercurrency, its value exists only in the ether and if the lights get turned off so does your wealth. But for all its press and attention, how big is Bitcoin, really? It turns out, in the big picture - not that big. According to the data-visualization website HowMuch.net, the total current value of all the bitcoin in the world is about $41 billion. Its total value is less than half of Microsoft's founder Bill Gates net worth and 1/10 of Amazon's market cap.