Bitcoin Economy = What Amazon Spent On Denny Triangle SiteFebruary 12, 2013 9:47 am
When we spot comparable numbers at different places we know we have a ‘This Equals That’ post in that. We spotted two comparable numbers today – In December 2012, Amazon paid $207.5 Million for the Denny Triangle Site – where it plans to build a 3.3 million-square-foot office complex, including a 37- or 38-story tower and a smaller building on each of the blocks (Source).
The total market cap of the bitcoin economy is roughly that number – “As of January 2013, bitcoin is the most widely used alternative currency: All bitcoins converted at the current market price would be worth over 200 million US dollars” (Wikipedia)
With the dollar amount paid for that office space, Amazon could have owned the entire BitCoin economy. Well, not really – the mechanism of buying out all the bicoins does not work that way – many scenarios of expectations, supply and demand come into picture.
But this would definitely help us get the scale of Bitcoins as they exist today. And we are also not suggesting that this could have been a great move for Amazon – that it could have gained a huge advantage in the mcommerce space given the increasing popularity of Bitcoins – we are also not suggesting that a digital currency is the logical next step from a fiat currency world – we are not suggesting any of those things !