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In this video, I discuss the importance of market cap as a way of measuring a cryptocurrency’s adoption and success.
What is the single best metric for measuring cryptocurrency success/adoption over time?
Is it the number of devs working on your project? Hint: Ethereum had a huge unethical premine that it can use to hire lots of devs to help keep modifying the base layer and hard-forking it into non-existence.
Nope, it’s market cap (on real volume). Low volume creates a fake market cap: you could print up a trillion tokens and sell just one of them to a friend for $1 to get a $1 trillion market cap for your cryptocurrency.
Bitcoin has been and remains the most successful cryptocurrency over the years as measured by market cap.
The larger an asset’s market cap, the more that large investors can participate. If your market cap is only $1 billion and I have $100 million to allocate, I cannot play the game.
The more that large investors can participate, the higher the market cap goes.
It’s a virtuous circle on the way up (BTC), and a vicious circle on the way down (BCH)
We’re now at a market cap with Bitcoin where it finally makes sense for a huge player like BlackRock to get involved. BlackRock’s involvement will enable family offices, endowments, and corporations to follow in MicroStrategy’s footsteps and easily add BTC to their balance sheets.
It’s going to be ETF BTC, and not sovereign BTC, but that’s OK because it still increases adoption and market cap. You and I can continue to hold BTC and never let BlackRock get their hands on it.
The next step up in the adoption curve is: nation-states and central banks adding BTC to their balance sheets.
Bitcoin’s purchasing power continues to increase not just against traditional assets, but also against all other cryptocurrencies.
Hoping that your crypto doesn’t appreciate against other assets so that people won’t notice you is the sign of a loser mentality.
Not investment advice! Consult a financial advisor.
Top crypto by market cap:
https://coinmarketcap.com/
Most successful companies measured by market cap:
https://www.slickcharts.com/sp500
2017 crypto snapshot:
https://coinmarketcap.com/historical/20171217/
2014 crypto snapshot:
https://coinmarketcap.com/historical/20140126/
FinCEN proposed regulation:
https://www.fincen.gov/news/news-releases/fincen-proposes-new-regulation-enhance-transparency-convertible-virtual-currency
https://www.fincen.gov/sites/default/files/federal_register_notices/2023-10-19/FinCEN_311MixingNPRM_FINAL.pdf
Imagine, everything there is and everything that will ever be, divided by 21 million:
Imagine, everything there is and everything that will ever be, divided by 21 million
Noone understands#Bitcoin pic.twitter.com/cuUNnwfkb7
— Knut Svanholm ∞/21M (@knutsvanholm) October 16, 2020
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#crypto
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20 Comments
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BlackRock’s BTC ETF will be negative for BTC not the other way around! They won’t trade real BTC, meaning they will suck all the real trading volume turning it into dust!
You are a looser for telling people to only buy BTC, never sell your BTC. Don’t buy stocks, gold, real estate, alt coins or any other investment. Rent your house don’t buy your house. Take every cent you have and buy BTC and just sit on it. Like most Maxies…..that’s the worse advice ever offered.
What kindof a loser actually buys into these WEF POS coins? Ha ha they deserve to lose their wealth if they don't understand Bitcoin and pow vs the fiat bullshite world of POS. Bitcoin toxic maxi here and eat my shorts, ha ha. My job is simple, watch as your market cap gets gobbled up by a real POW BTC. What a bunch of losers. I love to say, "I told you so!" Good night sweetheart, good night. Ha ha I WILL have the last laugh and why don't you losers go vote for Biden while your at it. haha! LOSERS! I"m so totally laughing in your stupid faces!!!!!!! HAHAHAHAHAHAHAHAHAHAHAHAHA
Kool
Can corporations not already add BITO to their balance sheet? Serious question.
“I wanna be poor.” – Every ship coiner everywhere
5:00 describes bitcoin mixing rather than monero. No legislation can stop monero; that's the whole point.
I like getting hard forked.
THE FLOPPENING!!!!!!!
You have to check the new project Charles Hoskinson is spinning right now… the midnight network
Why 21,000,000?
Your best video title yet, Matt LOL
“They’re trying to reinvent the wheel when we already have the wheel.” Matthew swingin’ hard as a mother fukkin’ barbell as usual.
@Bitcoin_University
Can you make a video about when bitcoin will have a stable price against gold or against product and services? This is the concept of "money" according to Ayn Rand.
Money is the tool of men who have reached a high level of productivity and a long-range control over their lives. Money is not merely a tool of exchange: much more importantly, it is a tool of saving, which permits delayed consumption and buys time for future production. To fulfill this requirement, money has to be some material commodity which is imperishable, rare, homogeneous, easily stored, not subject to wide fluctuations of value, and always in demand among those you trade with. This leads you to the decision to use gold as money. Gold money is a tangible value in itself and a token of wealth actually produced. When you accept a gold coin in payment for your goods, you actually deliver the goods to the buyer; the transaction is as safe as simple barter. When you store your savings in the form of gold coins, they represent the goods which you have actually produced and which have gone to buy time for other producers, who will keep the productive process going, so that you’ll be able to trade your coins for goods any time you wish.
My theory is that for BTC will have a stable value when BTC reaches dozens of trillions of dollars, and then it will be very close to the "money" concept of Ayn Rand.
So open ledger is more private than private ledger??
Do you think xrp is a good example of how people are unjustifiable about gains?? A lot of people seem to have unrealistic expectations about it
I was going to post this in a chat for a group I'm in but they have deleted their Crypto chat channel 😂
Its terrifying to think the government can make a rule/law that says you can't transact in something like Monero because they are basically saying you are not allowed to have banking privacy at all. Even as Bitcoiners we should be on the side of Monero and not think this helps BTC.
Matt, what we are headed towards is a KYC and Non KYC bitcoin world. The government must realize they can't stop it. So the even more dangerous path is just tell all businesses that it is 100% illegal to accept non KYC bitcoin. They can fine and imprison business owners easily. This essentially stops all BTC if it can't be used in the real world. I really think this is the end game. And while we all cheer ETFs on. Just wait until Blackrock and other players are the only entities able to use BTC. What good will any of our BTC be?
Alot doesn't know that institution r only interesting with market cap over 500billion, they r not VCs that just gambling & betting for the next unicorn.