The crypt currency goes past Goldman Sachs and Morgan Stanley, measured at market value, after an even price increase over the last 24 hours.
Early Friday morning, the bitcoin rate was $ 5,856.10 – a preliminary top price for the crypto currency.
Go past investment giants
CNBC has compared bitcoin, as if the crypto currency was a share, with a number of large listed companies – including the major US investment banks Goldman Sachs and Morgan Stanley – and conclude that bitcoin is now greater than these measured at market value. Goldman Sachs and Morgan Stanley’s market value equals $ 92.9 billion and $ 89.1 billion, while bitcoin’s value, as mentioned, is $ 96.7 billion.
If the bitcoin had been listed on Wall Street, the crypto currency would be the 15th largest component of the Nasdaq index and 58th largest, measured at market value, on the entire New York Stock Exchange, according to CNBC.
Strong growth last month
Night to Friday, bitcoin reached a new peak after rising by around $ 930 over 18 hours. There are probably more underlying trends that stand behind the sluggish growth, according to Norway’s largest bitcoin expert Torbjørn Bull Jenssen in Menon Economics.
Amongst other things, a new split was expected in the cryptovaluta in November, Bull Jenssen explained to E24 on Friday morning .
Such a split can increase the value of bitcoins.
But bitcoin has not only grown dramatically over the last 24 hours – the whole month has been fierce for the crypto currency. From a bottom of September 15th to $ 2,958, the price has risen steadily.
According to Bull Jenssen, regulation worldwide has been one of the reasons for the growth of last month.
– Slowly, but surely, more regulation comes into place. And then cryptovaluta has become a little more mainstream lately, which probably leads to some of the upswing, he explains.
At the bottom of the page, there is a fear of stricter regulation, but it has seen a sharp rise in the crypto currency since last year, while it is still good for new people to come, according to the bitcoin expert.
This is bitcoin
Bitcoin is a virtual internet currency that does not exist as physical notes and coins, but only digitally in databases.
The name is composed of «bits» and the English word for coins. The creator is unknown, but used the Japanese psyche Satoshi Nakamoto when the project was launched in 2009.
Unlike conventional currencies as a penny or pound, bitcoins are completely decentralized and neither issued nor regulated by any central bank or supervisory authority.
Transactions can be done anonymously, without the authorities being able to intervene.
All transactions are public and stored in a database all of the network can check. Cryptography assures security, and an easily accessible tracking story allows the money to be used only by the owner and not several times.
A transaction is not valid until it is broadcast to others in the network, and recognized in a collective list of known transactions, called the block chain.
The money is “issued” by the fact that a computer program creates new Bitcoins. The program has an open source that anyone can check.