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• BTC’s $665 billion cap makes it superior to world class firms like JPMorgan Chase, Nvidia, Visa, Alibaba, and Taiwan Semiconductor Manufacturing Company (TSMC).
• BTC is 29% away from surpassing the humongous $2.33 trillion market cap of Apple.
• With a market cap of $269.13 billion ETH stands above companies like Netflix, Verizon, Coca-Cola, Nike and Vanguard and occupies the 32nd position in assetdash.com’s list.
As per the statistics provided by assetdash.com, Bitcoin still holds its position as the eighth most valuable asset in the world in terms of market capitalization. Moreover there is a fair chance that bitcoin as an asset may be able to surpass some of the valuable companies in the foreseeable future. Back in April, Bitcoin reached it’s all-time high of $64,895. However, it has lost 40% of its peak value and is currently trading at $35,455.29. On June 22, BTC plummeted down to $29,458.35, the lowest it has been in the past three months. Bitcoin tried to hold its position above the $35000 mark but again on June 26 it fell down to $30,405. Currently it has recovered more than 14% from its three months low.
BTC Slacks Behind Google, Microsoft and Apple
Back in April, when bitcoin was at its peak it held a much stronger position in assetdash.com list of assets. At its best, BTC even overshadowed major stocks like Facebook (Nasdaq: FB). However, after Saturday BTC has jumped to the 8th position on the list, surpassing Berkshire Hathaway (NYSE: BRK.A) and Tesla (Nasdaq: TSLA). However, it is still below Microsoft, Saudi Aramco, Amazon, Google, Facebook and Tencent in terms of market capitalization. Bitcoin currently has a market capitalization of $665.40 billion and daily trade volume of $24.68 billion. This makes it superior to world class firms like JPMorgan Chase, Nvidia, Visa, Alibaba, and Taiwan Semiconductor Manufacturing Company (TSMC).
‘Bitcoin Flippening’ Compares BTC With Other Popular Assets
With its $665 billion market cap, it is double the valuation of companies like Toyota, Procter & Gamble, and Walt Disney Company. And four times the cap of firms like Phillip Morris, the Royal Bank of Canada, Anheuser-Busch, and Citigroup. Moreover, assetdash.com has created a separate page called ‘Bitcoin Flippening’ which calculates how close the crypto is to outpace other assets. Basically it compares Bitcoin’s market capitalization with other popular assets. For example, bitcoin is only 7% away from surpassing Gold market capitalization and 44% short of Silver’s valuation.
BTC is 29% away from surpassing the humongous $2.33 trillion market cap of Apple and 38% close to outpacing Amazon. For Google and Facebook, the crypto is away by 38% and 66% respectively. However, the second largest cryptocurrency Ether (ETH) has not slacked in terms of market capitalization. With a market cap of $269.13 billion it stands above companies like Netflix, Verizon, Coca-Cola, Nike and Vanguard and occupies the 32nd position in assetdash.com’s list. The third and fourth largest cryptocurrencies, Tether (USDT) and Cardano (ADA) aren’t yet included in the list as the 100th position is occupied by Toronto Dominion Bank with $128 billion market capitalization.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
