The world’s cryptocurrency is currently worth more than one trillion, with bitcoin accounting for a large majority of the value. The price of probably the oldest virtual currency has risen to almost $40,000, pushing the value of all bitcoins in circulation up to much more than $700 billion.
Ether, the cryptocurrency of the Ethereum network, is currently worth more than $140 billion, while Bitcoin has a total market cap of around $750 billion. Then there is a long list of less valuable cryptocurrencies, including Tether at twenty two billion, Litecoin at eleven billion, and Bitcoin Cash at $8 billion.
Bitcoin creator Satoshi Nakamoto is considered to own around one million bitcoins. Most of these were mined in the first two years of Bitcoin’s existence when there was little competition. In case he still has copies of the private keys that control these coins, that would give him a net worth of nearly $40 billion – enough to make him among the fourthy wealthiest folks on the earth. Nakamoto has never publicly revealed his real identity and has not communicated publicly after 2014.
For now, the news is good. With a market cap of over $1 trillion, cryptocurrencies are now really worth almost half pretty much as Apple, the world’s most valuable company, reports Business Insider. It also makes the best cryptocurrencies more valuable than the entire Swiss economy.
Cameron and Tyler Winklevoss, brothers who became famous for the legal battle of theirs with Mark Zuckerberg over the origins of Facebook, are also major holders of bitcoins. At the peak of the last bitcoin boom in 2017, the Winklevoss brothers had $1.3 billion in bitcoin, according to The New York Times. That same bitcoin hoard would be worth $2.6 billion today.
While bitcoin is undoubtedly playing a huge role in these movements, they are also being driven by alternative cryptocurrencies, known as altcoins, making significant gains. In the last five days Ethereum, XRP, stellar, chainlink, litecoin, bitcoin cash, tezos and cardano have each provided returns in excess of 20%. The headliner is stellar, which gained 138%. If bitcoin continues to climb, perhaps aided by additional stimulus measures following the inauguration of Joseph Biden as the 46th president of the United States USM , altcoins could be poised for additional future growth as they typically follow bitcoin’s lead.