The Crypto Economy Exceeds $3 Trillion

After accumulating significant value over the course of 12 years, the cryptocurrency economy’s market capitalization reached $3 trillion on November 8, 2021. The total value of the 10,464 crypto-assets in existence is now greater than Microsoft‘s market valuation of $2.52 trillion and Apple’s market valuation of $2.47 trillion.

According to statistics, the net worth of the entire crypto-economy is valued at more than $3 trillion on Monday, November 8, after increasing by roughly 3.7 percent in value over the previous day. During the last 24 hours, the 10,464 coins in circulation, worth more than $3 trillion, generated $206 billion in global trade volume. Years ago, people laughed and dismissed cryptocurrency as worthless ‘Beanie Baby’ collectibles. Today, however, most people are not laughing, and they are either angry or taken aback by the value momentum.

The crypto economy’s rise to $3 trillion has been rapid, with the value surpassing $3 trillion in less than 13 years. The world’s top assets cannot say the same, and many of them have taken decades to reach their current value. From its initial public offering (IPO) to its first trillion-dollar valuation in 2019, Microsoft held the most valuable market capitalization for a total of 33 years. The rise in tech stocks, combined with the Covid-19 pandemic, pushed Microsoft past the trillion-dollar mark, resulting in today’s $2.52 trillion valuation.

The value of the crypto economy has grown 169.23 percent faster than Microsoft’s current market cap. Apple, too, has taken a long time to reach its current valuation since the company’s inception in 1976. Apple passed Microsoft to the trillion-dollar mark a year earlier, in August 2018, and it took the company 41 years to get there. Apple reached the second trillion dollar mark two years later in 2018, and the company will reach the $2.5 trillion mark in August 2021. Apple shares have since fallen a tad, to $150.68 per share, and the company is now valued at $2.48 trillion.

By reaching $3 trillion in less than 13 years, the crypto economy grew 215.38 percent faster than the mega tech firm Apple. The crypto economy is also larger than Google’s $2 trillion valuation and Saudi Aramco’s $1.99 trillion valuation. Google is only 23 years old, but it has already surpassed the $2 trillion mark faster than both Apple and Microsoft.

Patrick

Coincu News