Although Bitcoin has experienced a percentage increase in the order of millions since its launch in 2008, the asset remains relatively small on a macro scale. The evidence for this came on Friday July 31, when the Apple shares (AAPL) increased by a value equal to the current capitalization of BTC.
Apple shares rise 11% in one day, gaining more value than BTC's entire market capitalization
With a market capitalization of just over $ 200 billion, Bitcoin has reached a size where it is noticed by both Wall Street and Main Street. JPMorgan is now serving cryptocurrency companies, blockchain is a regular topic on CNBC and Bloomberg, and most people have heard of Bitcoin at least once.
Yet on a macro scale, a small force remains. During Friday's trading session, including after-hour trading, Apple shares rose by just over 11%, bringing the company's market capitalization to $ 1,85 trillion as per Google data.
The fascinating thing about this news is that Apple's market capitalization has actually increased by $ 200 billion, approximately the value of all the BTC currently in circulation.
After this last performance, Apple as a publicly traded company is worth 800% more than Bitcoin, despite being just a company. Likewise, Friday's AMAZ stock spike roughly corresponds to the market capitalization value of Ethereum.
Bitcoin has room to grow in the years to come
The sheer nonsense of a single company that earns more value in one day than the entire value of Bitcoin shows how precocious the sector is and how much growth potential there is, some investors commented.
Raoul Pal, Real Vision CEO and former hedge fund sales manager at Goldman Sachs, expects this potential to be realized.
Last year he said during a podcast with Stephan Livera focused on Bitcoin that the real estate sector is "inaccessible", bonds make little sense in the long run due to "practically zero returns" and the shares may be overstated.
The answer: Bitcoin. Some reports indicate that over the next few years and decades, assets of over $ 50 trillion will be transferred from the baby boomers' parents to the younger generation, potentially leading the money to flow naturally to Bitcoin faster than it has ever done before.
Pal added in a parallel study that the ongoing pandemic, economic impact and political response are demonstrating that there are real systematic risks in the monetary and financial systems that currently govern the world economy.
For the veteran of Wall Street, now a faithful supporter of cryptocurrencies, Bitcoin acts as a "call option" on the world by opting for a digital financing system that is updated compared to the current one. BTC has a market capitalization of $ 215,38 billion with a 24-hour volume of $ 26,49 billion.
