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Crypto finally becomes bigger than . . .  the world

Remember when bitcoin was “the ninth-biggest asset in the world”? Pretty impressive stuff (even if not actually true). Well bitcoin had better move aside because there’s another, bigger crypto token in town. In fact every asset in the world had better move aside — all of them combined, in fact. Introducing “Wrapped Bitcoin”: Yes that’s a screenshot from earlier today on CoinMarketCap — the world’s most trusted visited crypto data site, which as of last year is owned by the world’s biggest crypto exchange, Binance — showing that Wrapped Bitcoin had overtaken bitcoin to become the number one token by “market cap”, with a value of. . . 2 quadrillion. To put that in perspective, that’s more than 1,000 times bigger than the estimated value of the entire world’s

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Remember when bitcoin was “the ninth-biggest asset in the world”? Pretty...

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FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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