You've Got to See What the CEOs of JPMorgan Chase and Wells Fargo Just Said About Bitcoin
To put it mildly, cryptocurrencies are redefining "investment gains" for folks in 2017. Whereas the stock market has traditionally returned 7% a year, inclusive of dividend reinvestment, the aggregate value of more than 1,100 digital currencies has increased from $17.65 billion to begin the year to $167 billion as of Oct. 18. You know, just your standard 846% gain in a span of nine-and-a-half months.
Leading the charge higher has primarily been bitcoin and ethereum, the largest and second largest cryptocurrencies by market cap. Bitcoin's value has more than quintupled year to date, with its market cap recently approaching $100 billion. For context, bitcoin was valued closer to $3 billion just two years ago. Meanwhile, ethereum is up more than 3,800% since the beginning of the year. Combined, ethereum and bitcoin make up $123 billion of the aforementioned $167 billion in digital currency market cap.
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Source: Fool.com
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