Which Cryptos Are Worth More Than Uber?

Morning Report: As 2017 races to a close, let’s conclude this year’s run of morning reports with the Most 2017 Entry possible.

Here’s a quintessentially 2017 sentence: Following Uber’s SoftBank-led down round, a number of cryptocurrencies, including Bitcoin Cash, are now worth more than the troubled unicorn.

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Uber’s latest funding event saw the firm allow a large portion of its aggregate equity sold by insiders at a $48 billion valuation. Given that the firm allowed the sale of far more stock at that price than the roughly $68 billion valuation at which SoftBank will invest $1 billion, it seems a fairer price to hold in mind for the ride-hailing giant.

That in hand, what are the biggest cryptocurrencies worth? An excellent question. Here’s CoinMarketCap’s current list of the most valuable cryptos:

Bitcoin: $249.96 billion.
Ethereum: $73.97 billion.
Ripple: $70.75 billion.
Bitcoin Cash: $48.50 billion.
Litecoin: $13.74 billion.

As you can see, when we reach the fifth most valuable cryptocurrency, Uber pulls back into contention.

We spent some time yesterday working through the Uber math, looking at its historical valuation and revenue results to understand its revenue multiple’s compression over time, especially as its percentage-measured, year-over-year top line growth has slowed.

But who wants to do all that work! Bitcoin Cash is worth more than Uber now and that is a perfect, stupid sentence to conclude 2017 on. At least as far as morning reports go.