Something to cheer up with though, crypto’s potential is still great.
Although cryptocurrencies have made their marks in the last ten years, their values are still nothing to be compared with when compared to giants in the traditional market such as Apple.
Comparing Apple stock’s (AAPL) market cap to that of the entire cryptocurrencies reveals that crypto still has some more to achieve. This is because while Apple stock can boast of $2 trillion in market cap, the whole of crypto space only has $342.8 billion just as CoinMarketCap revealed.
The crypto industry started in 2008 with a white paper from Bitcoin but today, investors have put in billions of dollars into it. Its price started below $1 but it rose to nearly $20,000 in 2017 when it recorded an ATH that is yet to be seen again. At its ATH, Bitcoin’s market cap was seen at $194 billion.
The market cap of all the assets in the crypto industry is still a fraction of what Apple alone has to offer. The blockchain industry still represents less than 30% of Apple’s market cap.
In fact, as TradingView reveals, Apple’s market cap is the biggest among other companies listed on the U.S stock market. CNBC stated on Aug 19 that Apple is the first U.S. company with public shares to have a market cap of $2 trillion.
At the moment, Bitcoin’s value can be compared with Jeff Bezos’s net worth. There has been a struggle for supremacy between the CEO’s net worth and Bitcoin’s market cap for the past few months.