Bitcoin is now bigger than Armenia's economy by 18 timesDecember 4, 2017 - 11:40 AMT PanARMENIAN.Net - As Coinmarketcap.com puts the total value of all bitcoins in circulation at $193 billion, the cryptocurrency now exceeds the annual output of Armenia by more than 18 times. The country's economy is valued at a little more than $10,5 billion, according to World Bank data as of July. Bitcoin’s price surge means its market cap is bigger than most of the world's economies and the estimated worth of some of the world’s top billionaires. The cryptocurrency continued its march higher on Monday, December 4, solidifying above $11,000 and bringing its climb this year to more than 1,000%. The cryptocurrency’s market cap is also bigger than the likes of New Zealand, Qatar, Kuwait and Hungary. Bitcoin’s run-up has even seen it valued more highly than two of the world’s most influential banks - Goldman Sachs Group Inc.’ ($97 billion) and UBS Group AG ($67 billion). Also, Bill Gates is worth $90 billion and Warren Buffett has $83 billion, according to Bloomberg’s Billionaires Index. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |