Jeff Bezos Is Now Worth More Than Bitcoin’s Entire Market Cap
Quick Take
- Jeff Bezos, founder and CEO of online retail giant Amazon, has reached a record net worth of $171.6 billion.
- Bitcoin’s current market cap is just over $167 billion.
Jeff Bezos the online pioneer, founded Amazon in 1994. Since then, the e-commerce giant has grown massively to an eye-watering market cap of 1.44 trillion at the time of press. Bezos himself now boasts a net worth of $171.6 billion, Bloomberg reports.
Bezos’ net worth surges as Amazon shares (AMZN) soar amid the pandemic. Jeff Bezos’ staggering net worth is greater than the entire market cap of Bitcoin. With Bitcoin trading near $9,000, the current market cap for the popular digital asset is just over $167 billion at the time of press, according to CoinMarketCap.
According to data by CoinMarketCap, Bitcoin’s market cap has slid by nearly $15 billion since early June. Bitcoin’s market cap continues to fall, as the cryptocurrency makes a move towards the $9,000 level.
Can Bezos Buy Actually Buy All The Bitcoin In Circulation?
Despite boasting a net worth greater than the entire market cap of Bitcoin, Jeff Bezos likely can not buy all the Bitcoin in circulation even if he wants to. While Bezos can likely buy large amounts of Bitcoin directly from exchanges, doing so in a short period will likely cause prices to skyrocket. Furthermore, some Bitcoin holders have lost their private key, rendering their Bitcoin lost forever. On top of all of this, Bitcoin holders may not be willing to part with their Bitcoin unless offered an insurmountable sum of money.
While Bezos likely cannot buy all the Bitcoin in circulation, the simple fact that his net worth towers over Bitcoin goes to show how small cryptcurrency is compared to traditional markets and other assets.
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