Bitcoin Growth

2008 was the year of Bitcoins inception in which the early pioneers like the unknown person or persons named Satoshi Nakamoto started implementing the new technology.  Initially Bitcoin didn’t take off, but once people started to see it’s many use cases and potential it started becoming a force within a few years. Bitcoin, over the years since has had many highs and lows. Like any new emerging speculative market there has been some major setbacks but Bitcoins recovery and battle scarred endurance was there for all to see. In late 2017 when Bitcoin really started to make a rocket like move past all old all-time highs we seen google trend searches also skyrocket and Bitcoin became a real household name.

 


At its peak, Bitcoins market cap grew to a staggering $320 Billion dollars and that is only Bitcoin not including the whole cryptocurrency market. $320 Billion is an absolute motza; Let’s compare that to the global stock market. The market cap of the global stock market was an incredible $70 Trillion Dollars. If we break that down mathematically Bitcoins market cap was a mere 0.005% of the global stock market’s market cap. 


The potential for growth given the ever increasing adoption of Bitcoin and cryptocurrencies in relation to the total global market cap is what drives many long term investors to throw their hard earned cash into Bitcoin.  Even if we see 0.020% of the entire global market cap funnel into Bitcoin it will make Bitcoins market cap balloon to a staggering $1.28 Trillion dollars with an estimated single unit Bitcoin price of $80,000 USD.  This could easily be dwarfed however with some experts looking at a price closer to $1 million per Bitcoin in years to come.