On November 8, 2021, the cryptocurrency economy’s market capitalization reached the $3 trillion mark after gathering significant value over the course of 12 years. The aggregate value of the 10,464 existing crypto-assets is now greater than Microsoft’s market valuation at $ 2.52 trillion and Apple’s market cap at $ 2.47 trillion.
Cryptocurrency Economy Is Now More Valuable Than Company’s Like Microsoft, Apple, Google, Saudi Aramco
Statistics indicate that on Monday, November 8, the net worth of the entire crypto-economy is valued at over $3 trillion, after jumping roughly 3.7% in value during the last day. The 10,464 existing coins, worth more than $ 3 trillion, generated $ 206 billion in global trade volume in the past 24 hours. Years ago, people laughed and described crypto as merely valueless ‘Beanie Baby’ collectibles. Today, however, most are not laughing and they are either angry or simply taken aback by the surge in value.
The crypto economy’s climb to $3 trillion has been fast, as it’s been less than 13 years to surpass the $3 trillion in value. The world’s best assets can’t say the same, and many have taken decades to achieve the value they are today. It took the most valuable market capitalization, held by Microsoft today, a total of 33 years from its initial public offering (IPO) to its first trillion-dollar valuation in 2019. The soaring tech stocks and the Covid-19 pandemic pushed Microsoft beyond. the next trillion, leading to the current valuation of $ 2.52 trillion.
The crypto economy’s valuation grew 169.23% faster than Microsoft’s current market cap. Apple has also taken a long time to reach its current valuation since the company was founded in 1976. Apple beat Microsoft to the trillion mark a year beforehand in August 2018, and it took the firm 41 years to get there. Two years after 2018, Apple hit the second trillion, and in August 2021, the company hit the $ 2.5 trillion mark. Shares of Apple have since dropped a hair, down to $150.68 per share and Apple holds a $2.48 trillion valuation.
The crypto economy grew 215% faster than Apple’s valuation growth – Some believe the value of cryptocurrencies will overtake the growth of the internet itself
The crypto economy has grown 215.38% faster than tech mega-company Apple, reaching $ 3 trillion in less than 13 years. The crypto economy is also bigger than Google’s 2 trillion dollar worth and big oil’s Saudi Aramco and its $1.99 trillion valuation. Google is 23 years old and hit the $ 2 trillion mark faster than Apple and Microsoft.
However, the crypto economy grew 76.92% faster than Google’s overall market capitalization, and the 10,464 crypto-assets’ overall value is over 1 trillion dollars larger today. In 2016, Crown Prince Mohammed bin Salman said Saudi Aramco would be a trillion-dollar firm after a partial privatization scheme was settled. His prediction finally came true and Saudi Aramco is now the fourth largest asset in terms of market capitalization.
Meanwhile, the largest oil company Saudi Aramco is 88 years old and in 2019, it hit the $2 trillion market capitalization zone. It took the Saudi oil company 85 years to reach this milestone, which is about 553.84% slower than the 13-year value of the crypto economy.
In terms of growth, only the internet itself has seen exponential value grow as wildly as the cryptocurrency and blockchain economy. In fact, many proponents of crypto believe it will or that it has already overtaken the World Wide Web in terms of value. “The innovations in this industry may even surpass the Internet itself,” The cofounder and former CEO of Bitmain, Jihan Wu, said earlier this year.
