Bitcoin Market Cap Is Actually Over 75%, Says Asset Management Founder

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Bitcoin in fact accounts for a much larger proportion of the overall cryptocurrency industry, a former Google and Facebook executive has claimed. Bitcoin Market Cap Has Long Been over 60% Presenting new figures on social media August 6, Avichal Garg, who now runs cryptocurrency asset management firm Electric Capital, said standard methods for measuring Bitcoin’s dominance were flawed. Resources which compute market cap, specifically CoinMarketCap, draw on thousands of cryptocurrencies, including those with no liquidity at all. This, he argues, makes them irrelevant to calculations and allows them to dilute Bitcoin’s true presence. “True BTC market share is probably 75%+ and has likely been 60%+ for a long time,” he wrote. Coinmarketcap incorrectly calculates dominance using alts that have 0 liquidity. Most (though (definitely) not all!) projects are worth 0, which would put BTC dominance at 75%+ Bitcoin’s market cap currently circles $317 billion after a several-day bull run took…

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