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Elon Musk's personal fortune has surpassed the entire market capitalization of Bitcoin ($BTC), according to a report by CryptoSlate, with the continued rally in SpaceX's valuation credited as the primary driver.
The milestone places one person's net worth above the combined dollar value of every bitcoin in existence — a comparison that is unusual enough to deserve a close look at what it actually means.
It says something about both the scale of concentrated private wealth and where $BTC stands as an asset class.
What Bitcoin Market Cap Actually Measures Bitcoin's market capitalization is the price of a single coin multiplied by the total number of coins in circulation.
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