Bitcoin’s (BTC) market cap outperforms some of the big listed companies like Intel and Coca-Cola.
After a bull market in late July 2020 Bitcoin’s market cap grew significantly, surpassing a $ 200 billion threshold. At the time of this writing, the market cap of the major cryptocurrency was over $ 207 billion, below an intraday high of $ 222 billion that Coin360 data said earlier today.
Such as, Bitcoin is currently worth more in terms of market capitalization than the stocks of large global companies like Intel and Coca-Cola. As of July 31, Intel and Coca-Cola shares closed, with a market capitalization of $ 203 billion and $ 202 billion, respectively Macro trends.
Bitcoin weekly market cap chart. Source: Coin360
Intel has shown a strong sell-off in the past few days
Intel, a large global technology company, There has been a noticeable decline in market share in recent days. After the company released a disappointing third quarter earnings guide on July 22, Market capitalization fell below $ 259 billion According to Macro Trends, up to $ 45 billion will be lost before July 24.
Intel All-Time Market Cap Chart. Source: Macro Trends
However, This is not the first time that Intel has lagged behind Bitcoin. Intel’s market cap in 2017 was no more than $ 220 billion. while Bitcoin crossed a $ 300 billion threshold in its groundbreaking bull run in 2017when BTC hit its all-time high of $ 20,000.
The Coca-Cola market has been under $ 200 billion since March
Amid the uncertainty caused by the corona virus Coca-Cola suffered a significant decline earlier this year. In March 2020 Coca-Cola lost more than $ 90 billion in market cap in the course of a month as a result of the global pandemic. The decline ultimately led to the largest decrease in the company’s quarterly sales in at least 30 years, as reported last week.
In contrast, Bitcoin has seen several bullish moves this yearMarket capitalization has been over $ 80 billion, or about 40 percent, since January 1, 2020. The major cryptocurrency recently hit new highs for 2020, surpassing the $ 12,000 price on August 2.