Bitcoin on the verge of crossing PayPal's Market Cap.
The latest statistics from the industry have confirmed that Bitcoin is about to surpass PayPal’s $70 billion market cap.
In a tweet, Udi Wertheimer from Colu expressed that “the real flippening” had almost arrived due to Bitcoins press time market cap of $68 billion.
Bitcoins exponential market increase in August continued after SegWit’s lock-in. The cryptocurrencies lifetime peak was reset to $4,192 – attracting the attention of the media from all around the World.
Bloomberg added that the positive sentiment on Bitcoins business side and advances in technology could be aiding a good demand loop. Bloomberg’s most popular story is; Bitcoin passing the $4 billion mark.
Justin Short, founder of the NOUS trading platform, recently quoted in Bloomberg that people have now begun to price in the consumer demand from Coinbase’s $100 million fundraising round. Every $1 million worth of marketing brings new demand, which increases the price as the supply is limited by design.
Coinbase also mentioned that it aims to raise $1 billion going forward to make massive capacity increments; and recently announced the end and closing of its $100 million Series D.