Today I was thinking about the total market capitalization in the whole cryptocurrency space.
I got thinking, what is the "size" compared to it's direct competitors, banks?
Right now the total market cap is 112b USD
RBC (Royal Bank of Canada) $105b USD
ScotiaBank $70b USD
TD Canada Trust $90b USD
Bank of America $235b USD
As you can see the whole space, of which almost half is dominated by BTC alone, is valued at about the price of a well rounded established, banking and investing firm. And it is STILL growing.
Definitely a force to be reckoned with at this point nobody can deny that.
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Cool post! Crypto's are a big thing right now. I guess they're finally starting to talk about them a bit more in news too. BTC almost at 3000 right now :)
I think it is hitting that tipping point where there is so much money in it, they HAVE to talk about it and that means admitting that cryptos do what they do but better.
Yeah exacly!. It seems that normal intelligent citizens do some of these "grassroots" things first and then it gets bigger and then when its BIG then it gets to the public.
It seems to happen exactly in that pattern all the time.
As soon as the words "hey what is steemit?" comes out of grandmas mouth you know it's now mainstream and fox is covering it. Full market saturation.
Hahaha! Nice comment. Thats how it goes. But in Marketing/advertising companies they know these things. All the visibility is the thing. Even so simple things in marketing and really many ppl havent really thinked about it.
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Comparing market caps is somewhat misleading, especially when done between companies and currencies. But when comparing to currencies, it is clear how tiny cryptocurrencies still are.
What is a better comparison?
Yes still a tiny slice of whats to come.