Bitcoin Market Cap Above $7 Billion as Price Crosses $450

The world’s leading cryptocurrency, 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, has marked an important milestone today with regard to market valuation. The total market capitalization of all bitcoins in existence is now over $7 billion again, a benchmark not seen since August 2014. For comparison, the market capitalization of online money transfers firm Paypal (NASDAQ:PYPL) is about $49 billion, or just seven times that of the bitcoin network.

Fueling the rise in market cap is the fact that bitcoin’s price has been on a rally recently, with the BTC/USD exchange rate today reaching $453.50. Exactly a month ago March 24th, 2016 the price was as low as $413.50 so the figure represents a jump of about $40 or 9.7% month over month.

The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

Yearly comparisons are not always relevant for an asset as volatile as Bitcoin but it should be noted in this case for its long term growth. The leading cryptocurrency has roughly doubled in value as on April 24th, 2015 the BTC/USD exchange rate was just around $230 and the total market cap of Bitcoin was just $3.3 billion.

The overall market capitalization of all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term combined is now almost $8.5 billion, with Ethereum at $652 million, Ripple at $254 million, Litecoin at $156 million, Dash at $41 million and the many others making up the remaining $400 million.