What took Microsoft 44 years, Apple 42 years, Amazon 24 years and Google 21? The answer: achieving a trillion dollar market capitalization. However, it took the Bitcoin cryptocurrency just 12 – the fastest ever. At the beginning of 2021, Bitcoin had a market capitalization of $500 billion, but in just four months it has gained another $500 billion as tech CEO’s like Elon Musk and Jack Dorsey have made sizable investments, multiple exchange-traded funds are preparing to launch, the CoinBase cryptocurrency exchange has gone public, and many legacy financial institutions like PayPal, MasterCard, Visa, JP Morgan and the Bank of New York Mellon have come on board. The only question now seems to be, “How long till the next trillion?” As they say on the WallStreetBets Reddit message board, “To the Moon!” (Chart from visualcapitalist.com)
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Jeffrey Cerny