Bitcoin is tiny, even at the highs (#426)

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[caption id="attachment_24206" align="aligncenter" width="888"] Adcorp Daily[/caption]

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Bitcoin is tiny, even at highs

Disclaimer upfront, I have been buying Bitcoin because I like to own things that are going up, my average entry price is R204k. This is a trade, so I will take my money at some point.

Looks certain to make new all-time highs and US$20k surely sooner rather than later.

Not a bubble this time, as it was in 2017. That doesn't mean can't collapse or can't become a bubble.

Interestingly the narrative has changed, the talk of Bitcoin for payments, something I said was a long long way off, is no longer the biggie. Now it really positioning itself as an alternative asset. Remember how blockchain would save the world?

But here's what was really interesting to me, the market cap of Bitcoin. ±US$400billion! Less than Tesla, in fact very tiny. Consider how many exchanges, blogs, shows and chatter about this one asset that is so very small. The size also restricts large institutions getting involved.

For comparison, gold is about US$9trillion, NYSE about US$30trillion and total US debt US$27trillion.

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