A milestone was reached today that saw the combined values of cryptocurrencies now worth more than Apple.
All major 3 cryptocurrencies over the last 24 hours experienced new all-time highs.
The cryptocurrency milestone comes as Coinbase went public with the launch of its initial public offering (IPO) on the US Nasdaq index, Coinbase being the first listed company specialising in cryptocurrencies.
The stock market debut for one of the world’s leading cryptocurrency exchanges is said to be a 'coming of age' moment for the crypto industry estimating valuations in the region of $100 billion.
One bitcoin is now worth more than $64,000. One ethereum is worth $2,350 and one dogecoin worth $0.13 at the time of writing.
The cryptocurrency market is now valued at over $2.2 trillion which, is $10 billion above Apple’s market capitalisation i.e. value.
Bitcoin has risen in price by more than 1,000% over the last year and is valued at more than $1.2 trillion, ranking it above Tesla and Facebook.
Recent gains means Bitcoin the worlds first cryptocurrency is now worth more than the combined market caps of payment giants Mastercard, PayPal and Visa.
Bitcoin is a long way off the overall value of gold, but is catching up quickly on silver.
This is a difficult one. We respect the phenomenal growth of cryptoassets but they are not regulated by the FCA i.e they are an unregulated investment and therefore, as financial advisers, we do not offer advice on them.