Cryptocurrencies are now close to hitting over $1 trillion in total value. According to Motley Fool, in early 2017, the combined market cap of all virtual currencies was just $17.7 billion, and bitcoin made up nearly 88% of that total. However, as of Dec. 20, the aggregate market cap of the better than 1,360 digital currencies had soared to $635 billion, representing a year-to-date increase of almost 3,500%, and bitcoin’s contribution was less than 50%. On the other hand, the stock market historically gains about 7% a year, inclusive of dividend reinvestment and adjusted for inflation.
Motley Fool goes on to explain the bullishness behind cryptocurrencies:
“A number of catalysts have played a role in pushing virtual currencies higher. For example, the emergence of blockchain is creating a lot of buzz on Wall Street.”
Source: Austrlian National Review