Bitcoin's extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies, and the estimated worth of some of the world's top billionaires.
With the debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above US$11,000 ($NZ16,000) and bringing its climb this year to more than 1,000 per cent. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at US$190 billion (NZ$277b) , it's come a long way from August, when one coin could buy you a hefty supply of avocados.
Here are five things that have been eclipsed by bitcoin in terms of market capitalisation:
• New Zealand's GDP: The nation's farm-and-tourism-led economy is valued at US$185 billion (NZ$269b) , according to World Bank data as of July, putting it some US$5 billion below bitcoin. The cryptocurrency's market cap is also bigger than the likes of Qatar, Kuwait and Hungary.
• Goldman Sachs, and UBS: Bitcoin's run-up has even seen it valued more highly than two of the world's most influential banks. Goldman Sachs's market cap was US$97 billion as of Friday, while Zurich-based UBS Group came in at about US$67 billion. Add those numbers together and it still falls short of bitcoin.