With a large upward trend in crypto markets, the market capitalization of Bitcoins (BTC) outperforms some major publicly traded companies, such as Intel and Coca-Cola.
Following the bull market at the end of July 2020, there was a significant increase in the market cap of Bitcoins, which exceeded the limit of 200 billion US dollars. At the time of writing, the market capitalization of the largest cryptocurrency is more than $ 207 billion, down from $ 222 billion on August 2, according to Coin360.
Larger market capitalization than Intel and Coca-Cola
As such, Bitcoin currently has a higher market capitalization value than the shares of major global companies such as Intel and Coca-Cola. On July 31, shares of Intel and Coca-Cola closed at capitalization $ 203 billion and $ 202 billion, according to Macro Trends. Below is a graph showing the rise of the BTC market cap over the last seven days.
Intel has seen a sharp sell-off in recent days
Intel, the world’s leading technology company, has seen a significant decline in market share in recent days. After Intel released a report on Q3 revenue to be delivered on July 22, it was disappointing, the company’s market capitalization fell below $ 259 billion. Subsequently, according to data from Macro Trends, it lost another 45 billion US dollars as of July 24.
This is not the first time that Intel has lagged behind BTC’s market capitalization. During 2017, Intel’s market cap did not exceed $ 220 billion, while bitcoin exceeded $ 300 billion during the historic bull run in 2017, when BTC reached its all-time high of $ 20,000.
Coca-Cola has fallen below $ 200 billion since March
Amid uncertainty caused by coronavirus, the beverage giant Coca-Cola saw a sharp sell earlier this year. In March 2020, Coca-Cola lost more than $ 90 billion in market capitalization in one month due to a global pandemic. This eventually resulted in the largest decline in quarterly revenue in 30 years, the company said last week.
In contrast, Bitcoin recorded several bull movements this year. As of January 1, 2020, this is more than $ 80 billion, or about 40% of market capitalization. The biggest cryptocurrency, according to the market cap, recently reached its new highs in 2020. The value of BTC exceeded $ 12,000 on August 2.
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