Move Over, Bitcoin: This 2,700-Year-Old Currency Is Going Digital
Despite the broad-based S&P 500 having nearly quadrupled since hitting its trough in March 2009, this year belongs to cryptocurrencies. Since beginning the year with an aggregate market cap of $17.7 billion, the value of more than 1,300 virtual currencies combined tipped the scales at $335 billion on Dec. 3, working out to a year-to-date return of a cool 1,792%! By comparison, it's taken the stock market decades to deliver similar returns.
Though it may not be the top performer on a percentage basis, given that it's only up a bit over 1,000% for the year (terrible, right?), bitcoin is leading the crypto-revolution. As of Dec. 3, bitcoin was valued at $11,100 per coin, giving it a market cap of $185 billion. That's larger than Dow Jones Industrial Average stalwarts like Walt Disney, General Electric, and Boeing.
Image source: Getty Images.
Source: Fool.com
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