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Bitcoin bigger than Buffett, Boeing, New Zealand's economy

With debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000

Bitcoin. Photo: Reuters.
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Bitcoin. Photo: Reuters.

Bloomberg Hong Kong
Bitcoin’s extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires.

With debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 and bringing its climb this year to more than 1,000 per cent. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at $190 billion, it’s come a long way from August, when one coin could buy you a hefty supply of avocados.

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