Facebook lost $90B in market cap this month, yet it's still 40% larger than the entire Cryptocurrency market cap
Yes, you read that title correctly.
Facebook lost roughly $90 billion in the last month and even after that drop, it's valuation is still 40% larger than that of the entire cryptocurrency market cap:
(Source: https://finance.yahoo.com/chart/FB)
It's been a rough couple weeks for Facebook's stock, to say the least.
Now, lets take a look at Facebook's current market cap:
(Source: https://finance.yahoo.com/quote/fb?p=fb)
Facebook has a market cap of $463 billion. It was very near $550 billion just a few weeks prior.
Now lets compare that with the market cap of the entire cryptocurrency asset class:
(Source: https://coinmarketcap.com/)
The entire Crypto market cap comes in around $342 billion, still $100 billion less than Facebook currently trades for.
Does that seem right to you?
We are talking about an entire asset class that could potentially disrupt just about everything, trading for less than a single centralized social media company.
Yes Facebook makes a lot of money and yes it is unclear exactly what role cryptocurrencies will play in the future, but that does seem slightly out of whack to me.
Especially when the trend seems to be away from centralized systems towards decentralized systems, which is part of what the recent mass selling in Facebook's stock was all about.
I would not be surprised to see these numbers completely flip in the coming months.
Stay informed my friends.
Follow me: @jrcornel
So, are you saying that Bigger is Better? 🤑
go cryptocurrency :-)
Give it a few more weeks and hopefully FB's market cap will be approaching that of Tether. :-)))
I did read an article in mainstream media that facebook at the moment is just to big to fail!
O boy, they will be proven wrong. Te only thing that could safe facebook is if they implement some kind of reward for their users. At the end they will but then it is maybe too little too late!
Really? I wonder what their rational of too big to fail was? In the past, banks were too big to fail because they were so intertwined with just about every part of the economy. Facebook, not so much.
Which is why they acquired other companies that appeal to the non-facebook crowd. Nothing is too big to fail, but they've diversified. They really are the social media equivalent of Google or Amazon in terms of dominance in their respective fields, at least in the west. China and other emerging markets and their own social medias/commerce platforms are a whole other story. What's funny is how small, say, Amazon and its volume is compared to the Ali family of companies.
Don't forget that almost 1/6th of the population lives in China. That's why I did invest in Neo instead of Ethereum. (Not the only one, but one of the reasons)
But things are changing, within 2 months there will be a linkedin like application on the blockchain, where people are rewarded to share their business profile. It maybe not the big change but each small one, contributes to it!
Looking forward to see a rewarding facebook type social type social but unique and quite different from facebook. One thing won't happen for sure, mass amount of people won't leave facebook for steemit, however a beautifully designed and very user friendly and light app built with to integrate with the steemit platform may just do the trick. Though, a social media built to compete with facebook, i'd prefer it being built on the EOS platform.
Don't worry by the end of April, it will be worth less that the entire cryptocurrency market cap. By the end of the year probably half or less. Facebook is dying, I haven't used it for a couple years and now other smart people are dropping it.
I was hoping you were going to say it was worth less because crypto was soaring, dang. Perhaps some combination of the two. I think once we get past April 19th (tax day), we will see some money come back into the space.
@jrcornel. I'm glad you said some money. Because tax day isn't for the entire world. It's just for the US. Hopefully, people will FOMO in because they have no idea what initiated the new bull run lol.
Agree times 100 times the reason for the drop this time of year is liquidations for tax purposes. People are meeting thier accountants and freaking out. Also profit taking because no tax is due for a year on that. Then again it is the year of the dog and I prefer cats.
There is some good news coming out for crypto right now, hence the bounce. Also there is huge money wanting to get in, waiting for the finalization of regulations, hedge funds, central banks etc. It will take time to build up momentum and it will go past the moon to another galaxy as the real whales buy in giving crypto some real legitimacy to all the investors that thus far have been too scared to jump in.
This, so much awareness now of this soul harvesting tapeworm platform, it's usage pattern mimics that of Myspace right at its peak when it plateaued. Look out zuck, better find a new job.
Yeah, I wonder how many accounts are sitting inactive, with people who won't come back but haven't bothered to close them.
And Steem sits around $200 Million market cap! Seems Facebook just lost 90x5 = 450 steemit capitalizations!
I saw that in the news.The loss is due to the Cambridge analytical scandal. Among those I saw that has broken ties with facebook is Mozilla (Firefox browser) I expect a lot of companies and investors are doing the same.
It's interesting because I think trust is something that people kind of accept as a part of using the internet. You have to trust these companies not to use your information in nefarious ways. It seems like they prove time and time again that they aren't worthy of trust, and people are sort of accepting that they have to give in to use online services. Crypto is a really great step in the opposite direction. It is still possible to have privacy in a meaningful way. I hope things like crypto make people aware that they don't have to give up their privacy and makes them fight more for it.
deleted fackbook join steemit
![U5dsaRQqqFidwDT7HyCcfxXK3x5p3xa_640x480.jpeg](https://steemitimages.com/DQmeAGoDhmmwVtSM7pTNCf6XfRQeionY4qZhYziK7bXtEwU/U5dsaRQqqFidwDT7HyCcfxXK3x5p3xa_640x480.jpeg)
Most people are unaware of what is actually happening, especially third world countries.
Nice article, thanks for sharing. I've smashed the like button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.