Ethereum vs Bitcoin Market Cap
Ethereum’s market cap could possibly someday surpass Bitcoin’s market cap. Currently, Ethereum’s market cap is around $111.6 billion. Bitcoin’s market cap is around $171.7 billion. The difference seems like a lot but it is not. Ethereum has been growing while Bitcoin has been falling. If this trend continues then it is possible we will see Ethereum’s market cap take over Bitcoin by the end of 2018.
For the last two weeks, Bitcoin has been falling while Ethereum has been trending up for the last month. This is getting people really excited and talking about Ethereum passing Bitcoin in regards to the market cap. It would only have to pass the price of about $1,750 which isn’t that far away right now ($1,100). If they reach $1,750 it is possible that they will also pass Bitcoin’s market cap.
It is not an impossibility. There is a lot of news out there regarding this topic. Add this to the fact that bitcoin has been getting a lot of bad press due to government regulations. It is not out of the question that Ethereum will rise to the top.
Blockchain LLC buys 60,000 acres of land for Ethereum
Yesterday, we heard the news that Blockchain LLC, who has been in this space for a while, spent $175 million to buy 60,000 acres in an area outside of Reno Nevada that has companies like Google, Apple, and Tesla out there using facilities. The reason why so many companies go to Nevada is that the land is so good when it comes to taxes. Nevada is also welcoming to cryptocurrencies with a recent bill that doesn’t tax cryptocurrency transactions.
It is unknown what Blockchain LLC will do with that land. However, it was announced that they will have over 2,000 employees within about 2 years. These employees will be building on the ethereum blockchain.
Since ethereum will be moving to proof of stake which means that the algorithm for validating the transactions on the ethereum network will switch from one where ethereum can be mined to one where you leave your ethereum in a wallet and you get a steady stream of income. So you get ether just for holding it there.
With a company like Blockchain LLC backing ethereum the future looks bright for ether. Look for ethereum to pass bitcoin by late 2018 in regards to the market cap.