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Passing the torch: Will a Bitcoin's dollar value exceed the Nasdaq Index value?
The NASDAQ stock market, which opened for trading in 1971, was the world's first electronic stock market. Its well known benchmark, the NASDAQ Composite Index, is a market capitalization-weighted measure of the value of all the domestic and internationally based common stocks listed on the NASDAQ market. The index includes large-cap names such as Apple, Facebook, Google, and Microsoft.
Companies on the NASDAQ index were the darlings of the late-90s dot-com bubble, and drove the index to an intra-day high print of 5132.52 on March 10, 2000. The bubble burst shortly thereafter, and the index dipped to a low of 1108.49 on October 10th 2002.
Recently, the NASDAQ has reachieved its dot-com era highs. As of this writing, after the market close of September 1, 2017, it stands at 6,435.33.
The ongoing tech stock run-up, however, has been dwarfed by the success of bitcoin, which is is currently priced at $4833.05, having risen from roughly $1000 at the start of 2017.
Prior to December 1, 2017, will the numerical value of the dollar to bitcoin rate exceed the numerical value of the Nasdaq Composite Index?
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