Here’s what happened this week on Startup Street. Valued at $505 billion, the world’s top 20 cryptocurrencies have overtaken the world’s top 20 billion-dollar startups by valuation — as pointed out in a tweet by Charlie Belillo, director of research at investment adviser Pension Partners.
Bitcoin makes for nearly half the cryptocurrency pool, with a $212.7 billion market cap, as of yesterday (31 December 2017). In comparison, the top 20 startup unicorns are together valued at $465 billion, with the largest — China’s Ant Financial — at $70 billion.
Cryptocurrencies have had a stellar run, this year, with bitcoin reaching as high as $19,511 on 18 December. While it has since plunged more than 30 percent to about $13,000, the price of a bitcoin is still 1,200 times higher than what it was on 1 January 2017.
The valuation of Uber, the second most valued unicorn, stands at $48 billion as of yesterday after an investor group led by Japan’s SoftBank Group Corp. bought 18 percent stake. At $505 billion, the top 20 Cryptocurrencies have a market value that is greater than the 20 largest startup unicorns ($465 billion).
pic.twitter.com/q6kqNyQdLF Also Read: Bitcoin’s Growth Stirs Fear of Bursting Crypto-Currency Bubble Magic Leap was founded by Rony Abovitz in 2010 but took seven years to reveal its first product. The mixed reality startup showcased the Magic Leap One, a head-mounted virtual display, and will start shipping the creator edition in 2018, according to its social media channels and website. Read more from thequint.com…
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