Bitcoin is the Fastest Asset to Reach $1 Trillion
The world is moving forward at an accelerated pace. Historically, it’s taken multiple decades for companies to be worth $1 trillion. For bitcoin, it took just 12 short years to reach such a milestone.
To help put things into perspective, here’s a look at how long it took America’s biggest tech companies to reach the $1 trillion market cap.
|Asset||Time To Reach $1 Trillion||Current Market Cap|
|Microsoft||44 years||$1.9 trillion|
|Apple||42 years||$2.2 trillion|
|Amazon||24 years||$1.7 trillion|
|21 years||$1.5 trillion|
|Bitcoin||12 years||$1.1 trillion|
Market caps as of April 12, 2021
Extreme Bullish Sentiment
Bitcoin has been subject to widespread commotion in markets.
At the start of 2021, the cryptocurrency had a more modest market cap of $500 billion, but has gained more than another $500 billion since. An onslaught of headlines has contributed to extremely bullish investor sentiment, including:
1. CEOs begin to show interest
Elon Musk and Jack Dorsey have made sizable investments in bitcoin through Tesla and Square, respectively. It’s estimated the gain from Tesla’s $1.5 billion bitcoin investment was greater than the profits from the entirety of their business in 2020.
2. New (Read more...)