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> Market cap is by definition people using it.

You and I have very different dictionaries it seems

> They’ve exchanged their money for it.

A thousand people trading magical tokens they pretend cost trillions of dollars doesn't make it: a) worth trillions of dollars and b) any significant usage




Eh? The fact that people have exchanged trillions of “real” dollars for them means precisely that’s what they are worth lol.


That is not how market cap works.

I start a company: SquidSoft, LLC. I sell you equity: 0.000000001% of SquidSoft, LLC for $1. Bam, SquidSoft, LLC’s market cap is $1T even though only $1 has traded hands.


Market cap is meaningless. Using market cap as a metric anyone can become the richest person in the world. See here: https://www.youtube.com/shorts/igENXZRECOs




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