Bitcoin Market Cap Above $20 Billion as Price Surpasses Gold

The BTC/USD exchange rate is now trending at a record $1265 per one Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. And in total, the overall valuation of all bitcoin in circulation is now above $20 billion – a major benchmark market cap never seen before.

The cryptocurrency's worth still has room to climb if we compare it to the valuation of PayPal (NASDAQ: PYPL), which is now at just over $51 billion - but that is not the comparison that everyone in the community is pointing to right now.

All over the social networks and online forums bitcoin advocates, investors and long term holders are celebrating that its price has now surpassed that of an ounce of gold at $1233. The importance of this is that gold has for millennia stood for a safe store of value and bitcoin advocates see it as the digital equivalent - if not replacement.

Trying to explain the recent rally most commentators point to increased demand from China where paradoxically the central bank recently restricted the operations of the country's bitcoin exchanges. The theory seems to be that by acknowledging its role in money laundering and by passing capital control, the People's Bank of China has given the cryptocurrency its 'sign of disapproval' in the eyes of people that were still on the fence before.

Its also important to note that the rising cryptocurrecy tide helps lift other boats as well. Ethereum, the second biggest Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term asset by market cap, is now priced at $20 with a market cap of $1.8 billion. Dash has seen its own rally and is now the third biggest cryptocurrency in the world.