Bitcoin Market Cap May Be 'Overstated' by USD 151Bn - Coin Metrics
Bitcoin (BTC) market capitalization may be overstated by USD 151.5bn, according to data from the crypto intelligence firm Coin Metrics. And the same may well go for the token's forks, the company suggested.
Coin Metrics arrived at this staggering figure by looking at how many coins may actually be on the market. Per a tweet from the firm, Coin Metrics said that it was "widely understood that whilst there are 18.6m bitcoin in existence, many are lost and not available to the market anymore."
Instead, the firm introduced a free float supply model, claiming that contrary to more conventional figures, "a more realistic representation" of bitcoin's supply would be 14.5m.
https://cryptonews.com/news/bitcoin-s-market-cap-may-be-overstated-by-usd-151bn-coin-met-9139.htm
I don't think BTC's capitalization is 500-600B as it is now, maybe it's only worth 10-20% of that value, because most of BTC doesn't participate in circulation on exchanges. Any value in capitalization is still just belief and when 0.01 BTC costs 1K USD more, its entire capitalization will increase by about 20B USD.
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