Bitcoin's Biggest Competitor Isn't Ethereum -- It's This

Bitcoin's Biggest Competitor Isn't Ethereum -- It's This

To borrow and modify a catchphrase from sports commentator Dan Patrick: "You can't stop cryptocurrencies, you can only hope to contain them."

Since the year began, the aggregate value of all cryptocurrencies combined has surged from $17.7 billion to a fresh all-time high of $305 billion, as of Nov. 27. In less than 11 months' time, the value of all virtual currencies has risen by more than 1,620%! Mind you, the stock market, inclusive of dividend reinvestment, has historically gained about 7% per year. Digital currencies have absolutely left traditional assets in their dust this year.

Leading the charge is bitcoin, which appears to be knocking on the door of $10,000 per coin. Bitcoin began the year below $970 a coin, so it's had an incredible run. Its current market cap of $162 billion actually places it ahead of Dow Jones Industrial Average stalwart General Electric.

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Source: Fool.com