New research conducted by the crypto research firm Weiss Crypto Ratings shows that the world’s top-ranked digital currency Bitcoin’s market capitalization is still a lot less than that of the U.S. Stock market. Though the leading cryptocurrency has earned a great deal of popularity over the course of the last ten years, it still remains just a tiny drop in front of the total market cap of the stock market.
BTC’s market cap is 0.5% of the U.S. stock market
To remind Bitcoin followers, the crypto research firm has once again conducted research on the market cap of Bitcoin as well as the stock market. The Weiss Crypto Ratings research firm has found that the number where the king coin is valued is still far less than that of the U.S. Stock market.
According to the research report, the current market capitalization of Bitcoin (BTC) is only 1/218th than the current size of the stock market. This means that the market cap of Bitcoin is still less than 1% of the U.S. market. Bitcoin’s market cap currently stands at $170 billion while on the other hand, the estimated size of the stock market is $37 trillion.
Furthermore, the research has suggested that Bitcoin may cover undreamed of heights if only one percent or two percent of the wealth of the stock market is included in cryptocurrency.
“Just 1% or 2% of that much wealth pouring into #crypto … would be more than sufficient to send #BTC to undreamed of heights.”
Bitcoin needs more institutional exposure
At the current moment, the top-ranked cryptocurrency needs to gain more institutional exposure to make it grow and develop further. A recent survey claims that around 36% of the institutional respondents are currently having bitcoin exposure. And this ratio is expected to increase in the coming days as more people are desiring for Bitcoin exposure.
The Grayscale Bitcoin Trust usually purchases bitcoin on institutional clients’ behalf and reportedly, Grayscale is purchasing more bitcoin. If Bitcoin exposure increases, Bitcoin is likely to grow up as well.