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WTF, Bitcoin Is Now Worth More Than New Zealand's Economy

Flagship cryptocurrency Bitcoin has surged so extraordinarily, it’s now bigger than Bill Gates, Warren Buffett and the Queen combined.

Bitcoin is also, according to World Bank data as of July, worth more than New Zealand’s economy.

    Sure, it’s one of the most volatile investments and debate continues to rage over just when the bubble will burst but, this week, it hit $US11,000.

    So, get this: that means it’s grown more than 1000 per cent.

    At the time of publish, one Bitcoin was worth $15,181.44 in Aussie dollars.

    Coinmarketcap.com puts the total value of all bitcoins in circulation at $US190 billion ($250 billion).

    To put that in mind-boggling perspective, it was only in August (yes, like 2017) when one coin could buy you about 100 boxes of Hass avocados.

    Bitcoin doesn’t just eclipse New Zealand’s GDP, which is valued at $US185 billion, about $US5 billion below Bitcoin, it’s valued higher than Goldman Sachs ($US97 billion) and Zurich-based UBS Group $US67 billion). In fact, both banks together still come up short.

    At $US162 billion, not even jumbo jet giant Boeing can top Bitcoin.

    Even if Bill Gates ($US90 billion), Warren Buffett ($US83 billion) and Queen Elizabeth ($US383 million) pooled their cash, they still wouldn’t be able to snag all the Bitcoins in circulation.

    Bloomberg

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