Bitcoin Is Now Bigger Than Morgan Stanley

By Tyler Durden

On the back of (unconfirmed) rumors suggesting China may back down from its harsh stance of ICOs and crypto exchanges following this week’s National Congress, the price of Bitcoin soared overnight, testing near $5900 before falling back a little this morning.

That has pushed Bitcoin’s market cap above $90 billion for the first time, surpassing PayPal, Netflix, and Morgan Stanley…

Goldman Sachs’ market cap is looming ($96bn) but JP Morgan’s $337 billion market cap is a long way off for now.

…read more

Source:: ZeroHedge