New Zealand’s GDP
The South Pacific nation’s farm-and-tourism-led economy
is valued at $185 billion, according to World Bank data as of July, putting it some $5 billion below bitcoin. The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.
Goldman Sachs, UBS
Bitcoin’s run-up has even seen it valued more highly than two of the world’s most influential banks. Goldman Sachs Group Inc’s market cap was $97 billion as of Friday, while Zurich-based UBS Group AG came in at about $67 billion. Add those numbers together and it still falls short of bitcoin.
Both financial heavyweights have taken a hands-off approach to the digital currency, with Goldman chief executive Lloyd Blankfein saying it’s too early to draft a bitcoin strategy and UBS — the world’s biggest wealth manager — saying it won’t allocate it in portfolios because of the threat of a government crackdown.
It makes jumbo jets but Boeing Co’s market cap of $162 billion is also less than that of a digital currency that didn’t exist 10 years ago. The Chicago-based company, which describes itself as the world’s largest aerospace firm, is more than a century old and employs 140,000 people in more than 65 countries, according to its website. Rival Airbus SE fares no better — it’s got a market value of ^66 billion ($78 billion).
Fourteen aircraft carriers
If bitcoin’s market cap could be used to buy military equipment, it would pack a mighty punch. USS Gerald R Ford, first of a new class of nuclear-powered supercarriers, was delivered to the US Navy in May. It cost an estimated $13 billion. So if investors put all their bitcoins together they would be able to buy a fleet of 14 ships.
Bill Gates, Buffett, the Queen
They sit atop Bloomberg’s Billionaires Index, but even if Bill Gates and Warren Buffett pooled their fortunes they wouldn’t have enough to buy all the bitcoins in circulation. Gates is worth $90 billion and Buffett has $83 billion, according to the index. Not even Queen Elizabeth II could get them over the line if she brought her $383 million to the table. While we don’t know what he told Katy Perry, Buffett has called bitcoin a “real bubble” in the past.