Bitcoin is the Fastest Asset to Reach $1 Trillion
The world is moving forward at an accelerated pace. Historically, it’s taken multiple decades for companies to be worth $1 trillion. For bitcoin, it took just 12 short years to reach such a milestone.
To help put things into perspective, here’s a look at how long it took America’s biggest tech companies to reach the $1 trillion market cap.
|Asset||Time To Reach $1 Trillion||Current Market Cap|
|Microsoft||44 years||$1.9 trillion|
|Apple||42 years||$2.2 trillion|
|Amazon||24 years||$1.7 trillion|
|21 years||$1.5 trillion|
|Bitcoin||12 years||$1.1 trillion|
Market caps as of April 12, 2021
Extreme Bullish Sentiment
Bitcoin has been subject to widespread commotion in markets.
At the start of 2021, the cryptocurrency had a more modest market cap of $500 billion, but has gained more than another $500 billion since. An onslaught of headlines has contributed to extremely bullish investor sentiment, including:
1. CEOs begin to show interest
Elon Musk and Jack Dorsey have made sizable investments in bitcoin through Tesla and Square, respectively. It’s estimated the gain from Tesla’s $1.5 billion bitcoin investment was greater than the profits from the entirety of their business in 2020.
2. New ETFs on the block
Multiple Bitcoin ETFs focused were recently approved by Canadian regulators and some have already launched on the Toronto Stock Exchange (TSX). For many years, the Grayscale Bitcoin Trust (GBTC) was the only readily accessible investment vehicle trading on equity markets that had exposure to BTC.
3. Financial institutions finally joining in?
Mastercard, Visa, and Bank of New York Mellon have made announcements to make it easier for customers to use cryptocurrencies.
On to the Next Trillion?
Future projections for the price of bitcoin are garnering more extreme and widening price targets.
The accelerated rate of change today has many of the Big Tech companies already inching closer to the next trillion in value. Will bitcoin follow suit?
Visualizing the Five Drivers of Forest Loss
Approximately 15 billion trees are cut down annually across the world. Here’s a look at the five major drivers of forest loss. (Sponsored)
Visualizing the Five Drivers of Forest Loss
The world has lost one-third of its forests since the ice age, and today, approximately 15 billion trees are cut down annually.
Forests are wellsprings of biodiversity and an essential buffer against climate change, absorbing billions of tonnes of carbon dioxide emissions every year. Yet, forest loss continues to grow.
The above infographic sponsored by Carbon Streaming Corporation highlights the five primary drivers behind forest loss.
Deforestation vs. Degradation
‘Forest loss’ is a broad term that captures the impacts of both permanent deforestation and forest degradation. There is an important distinction between the two:
- Permanent deforestation: Refers to the complete removal of trees or conversion of forests to another land use (like buildings), where forests cannot regrow.
- Forest degradation: Refers to a reduction in the density of trees in the area without a change in land use. Forests are expected to regrow.
Forest degradation accounts for over 70% or 15 million hectares of annual forest loss. The other 30% of lost forests are permanently deforested.
|Driving factor||Category||Average annual forest loss (2001-2015, million hectares)|
|Commodity-driven deforestation||Permanent deforestation||5.7|
|Forestry products||Forest degradation||5.4|
|Shifting agriculture||Forest degradation||5|
Commodity-driven deforestation, which includes removal of forests for farming and mining, is the largest driver of forest loss. Agriculture alone accounts for three-fourths of all commodity-driven deforestation, where forests are often converted into land for cattle ranches and plantations.
The harvesting of forestry products like timber, paper, pulp, and rubber accounts for the largest share of forest loss from degradation. This process is often managed and planned so that forests can regrow after the harvest.
Shifting agriculture and wildfires each account for around 5 million hectares or one-fourth of annual forest loss. In both cases, forests can replenish if the land is left unused.
Urbanization—the conversion of forests into land for cities and infrastructure—is by far the smallest contributor, accounting for less than 1% of annual forest loss.
How Much Carbon Do Forests Absorb?
The world’s forests absorbed nearly twice as much carbon dioxide (CO2) as they emitted between 2001 and 2019, according to research published in Nature.
On a net basis, forests sequester 7.6 billion tonnes of CO2 equivalent (CO2e) annually, which equates to around 15% of global CO2e emissions. As the impacts of climate change intensify, protecting forests from deforestation and degradation is increasingly critical.
Carbon Streaming Corporation accelerates climate action through carbon credit streams on REDD+ projects that protect the Earth’s forests. Click here to learn more now.
Ranked: Top 10 Foreign Policy Concerns of Americans
As the world’s superpower, the U.S. has major influence in world events. Which foreign policy concerns stand out for Americans?
In the United States, there is a distinct difference on top foreign policy concerns between Democrats and Republicans.
This chart uses data from Morning Consult to assess the top policy concerns of Americans.
The Top Concerns
Overall, the average American is most concerned about terrorism, immigration, and drug trafficking. Interestingly, this list corresponds with the concerns of the average Republican, though falling in a different order.
Meanwhile, Democrats are chiefly worried about climate change, another global pandemic, and terrorism.
Here’s a breakdown of the policy concerns at large and across political parties.
|Overall Rank with Americans||Foreign Policy Concern||Share of Voters Listing it as a Top Concern||Share of Democrats Listing it as a Top Concern||Share of Republicans Listing it as a Top Concern|
|#6||Preventing a global economic crisis||32%||33%||31%|
|#7||Securing critical supply chains||30%||27%||34%|
|#8||Preventing another global pandemic||30%||38%||22%|
|#9||Russia's invasion of Ukraine||27%||33%||21%|
|#10||Protecting human rights globally||25%||31%||18%|
|#13||Iran nuclear deal||21%||19%||24%|
|#14||Upholding democracy globally||15%||22%||8%|
Notably, the concern around U.S.-China relations ranks considerably low, as does preventing disinformation. Upholding democracy worldwide ranks extremely low with Republicans.
America’s Foreign Policy
Along party lines, the results are not surprising. Democrats skew towards multilateralism and want to engage with foreign bodies and other countries to tackle global issues. Republicans are generally more concerned with what’s happening at home.
Looking at the country as a whole and its relations with other nations, however, Americans lean more towards an America-first focus. According to Morning Consult, 39% of registered voters want to decrease U.S. involvement in other countries’ affairs, whereas 20% want to increase it; 30% want to keep the status quo.
Here’s a closer look at Americans’ desire to get involved in a variety of foreign policy initiatives:
|Issue||Increase Efforts||Decrease Efforts||Neither|
|Overseas Troop Deployment||21%||37%||30%|
|Trade and Tariffs||41%||15%||29%|
|Involvement with International Organizations||35%||21%||32%|
|Resolution of Military Disputes||38%||16%||33%|
|Resolution of Economic Disputes||43%||13%||31%|
As of October 2022
The U.S. Midterm Elections
With midterm elections underway, America’s foreign policy may not be the most important factor for voters. Pew Research Center found that in these congressional elections, foreign policy only ranked 12th among other key issues considered “very important” by registered voters.
The top five concerns of voters in these midterms are:
- The economy
- The future of democracy within the U.S.
- Energy policy
Regardless, the U.S. has a massive impact in foreign affairs and the results of the country’s midterm elections will likely cause a ripple effect globally. If Republicans win the House—which is looking extremely likely—and the Senate, President Biden’s foreign policy initiatives and priorities could be drastically restricted.
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