Biggest Wealth Transfer In History? Bitcoin Hits New All Time High Near $3,000 As Cryptos Surpass $100 Billion Market Cap

by Jeff Berwick, The Dollar Vigilante:

Are we witnessing the biggest wealth transfer in human history? A case can certainly be made for it.

One year ago, cryptocurrencies as a sector had a market capitalization of only $11 billion. Looking back even further, four years ago, the entire sector including bitcoin had a market capitalization of less than $1 billion.

As of today, it has surpassed $100 billion.

Bitcoin itself sits on the cusp of $3,000 as we speak.

$100 billion is still just a drop in the bucket of all financial assets. Business Insider has estimated the total value of all financial assets to be $294 trillion.

But, note, that most of our data and charts on cryptocurrencies doesn’t come from Bloomberg or Reuters. The majority comes from places like Coindesk and CoinMarketCap.com – small organizations mostly operated by anarcho-capitalists who have been in these markets for years while Wall Street is just starting to wake up to the fact that they better get into this market now.

This is a big shift. The world of money and banking may just be beginning to fall out of the control of Central Banks and Wall Street and into what has been mostly anarcho-capitalists, like myself, who have been investing in bitcoin since it was $3 in 2011.

Now, with it at near $3,000, that is a nice 100,000% gain for those of us who want to end central banking, communism, fascism and big government.

With cryptocurrencies skyrocketing, the number of anarcho-capitalist millionaires in the world has likely risen from about 10 to around 10,000. This will have massive repercussions in the coming years.

Read More @ TheDollarVigilante.com