With a market cap of $205 billion, Bitcoin is now overhauling the two brands Intel and Coca-Cola.
Bitcoin’s capitalization has outstripped some of the major publicly traded companies like Intel and Coca-Cola amidst a significant bullish trend on cryptocurrency markets,
In late July 2020, while following a bullish market, Bitcoin’s market cap saw a huge increase to go over $200 billion threshold.
Well, in the meantime the biggest cryptocurrency and publicly traded company Bitcoins recorded accounts more than $207 billion cryptocurrency accounts for over after a down trend from a $222 billion intraday-high recorded earlier yesterday which appears to be in line with data from Coin360.
With the situation at hand, Bitcoin overrules with a significant share of major globally traded organizations like Intel and Coca-Cola. Following a downward trend as of July 31st, the shares of Intel and Coca-Cola merely closed at a market cap of $203 and $202 billion respectively.
How this happened?
With Intel seeing a pointy sell-off recently.
Intel, which is one of the renowned technical companies globally, has been experiencing a continuous decline for some time.
This dropped further when Intel posted a disappointing Q3 earnings on July 22nd.
The market cap of the company was seen dropping below from $259 billion followed by gradually moving and losing about $45 billion by the July 24th.
Well, this is certainly not being the 1st time ever, when Intel was seen trailing behind Bitcoin by market capitalization though.
Over the course of 3 years, Intel’s market cap has not been experiencing to even move beyond $220 billion, whereas Bitcoin’s market cap was trending beyond $300 billion threshold
With the historic bullish run of 2017, while BTC continues to hit its all-time high of $20000
Coca-Cola continues to trail down below $200 billion since March of 2020.
With too much of going on due to the given pandemic COVID-19, the beverage manufacturer ended up suffering a significant unload this year.
Starting from March 2020, Coca-Cola has already been lost over $90 billion in the 2020 to which the credit certainly goes to the global pandemic of COVID-19.
The decline, however, resulted within one of the largest declines in quarterly that was reported with a minimum quarterly revenue. Looks like coke reported this as one of the largest declines in a quarterly revenue that was reported in 30 years.
Bitcoin meanwhile has been seeing multiple gains and bullish moves with over $80 billion and or about 40%, in market cap since January 1st, 2020. Now that’s quiet impressive and beneficial off course for the for Bitcoin, the most important cryptocurrency by market cap which has now set the stakes high by moving over $12000.0
Stay tuned for more updates!
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