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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |