On November 8, 2021, the market value of the cryptocurrency economy reached the $3 trillion mark after accumulating considerable value in 12 years. The total value of the existing 10,464 crypto assets is now higher than Microsoft’s $2.52 trillion market value and Apple’s $2.47 trillion market value.
The cryptocurrency economy is now more valuable than companies such as Microsoft, Apple, Google, and Saudi Aramco
Statistics show that on Monday, November 8, the net asset value of the entire crypto economy exceeded US$3 trillion, an increase of approximately 3.7% on the last day. The existing 10,464 coins are worth more than 3 trillion U.S. dollars and have generated 206 billion U.S. dollars in global trade in the past 24 hours. Years ago, people joked that cryptocurrency was just a worthless collection of “Peas”. However, today, most people do not laugh, they are either angry or just attracted by the momentum of value.
The crypto economy quickly climbed to 3 trillion U.S. dollars because its value exceeded 3 trillion U.S. dollars in less than 13 years. The same cannot be said for the world’s top assets, many of which have taken decades to reach their value today. It occupies the most valuable market value, Microsoft held today, From the initial public offering (IPO) to the first trillion USD valuation in 2019, a total of 33 years. The surge in technology stocks and the Covid-19 pandemic pushed Microsoft past the next trillion dollars, leading to a valuation of 2.52 trillion dollars today.
The valuation of the crypto economy has grown 169.23% faster than Microsoft’s current market value. Since the company was founded in 1976, it has also taken a long time for Apple to reach its current valuation. Apple beat Microsoft one year ahead of the trillion mark in August 2018, and it took the company 41 years to reach this goal. Two years later in 2018, Apple reached the second trillion U.S. dollars, and by August 2021, the company reached the 2.5 trillion U.S. dollar mark. Apple’s stock price has since fallen a bit, falling to $150.68 per share, and Apple is valued at $2.48 trillion.
The growth rate of the crypto economy is 215% faster than Apple’s valuation growth – some people believe that the value of cryptocurrencies will exceed the growth of the Internet itself
The crypto economy reached $3 trillion in less than 13 years, which is 215.38% faster than the growth rate of the large technology company Apple. The crypto economy is also bigger than Google’s $2 trillion and Saudi Aramco, a major oil company. 1.99 trillion USD valuation. Google was founded 23 years ago, reaching the $2 trillion mark faster than Apple and Microsoft.
However, the growth rate of the crypto economy is 76.92% faster than Google’s overall market value. Today, the total value of 10,464 crypto assets exceeds $1 trillion. In 2016, Crown Prince Mohammed bin Salman stated that after the partial privatization plan is resolved, Saudi Aramco will become a trillion-dollar company. His prediction finally came true, and Saudi Aramco is today’s fourth-largest asset by market value.
At the same time, Saudi Aramco, the largest oil company, has a history of 88 years. In 2019, its market value reached 2 trillion US dollars. It took 85 years for the Saudi oil company to reach this milestone, which is about 553.84% slower than the 13-year value growth of the encrypted economy.
In terms of growth, only the Internet itself can grow as fast as the cryptocurrency and blockchain economy. In fact, many encryption proponents believe that it will or has surpassed the World Wide Web in value. “The innovation in this industry may even surpass the Internet itself,” said Wu Jihan, co-founder and former CEO of Bitmain. Said Earlier this year.
What do you think of the crypto economy rising to $3 trillion in less than 13 years? Please tell us your thoughts on this topic in the comments section below.
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