The largest cryptocurrency, Bitcoin is now ranking among the number of top global companies in terms of market capitalization including Amazon, Apple, JP Morgan, Walmart Inc, Visa, Bank of America and many others.
Bitcoin Ranks in Top 24 Among Global Companies
Report from DataLight reveals that the data gathered on July 10, 2019, states that Bitcoin is one among the global shares by market capitalization. Accordingly, Bitcoin overtook Samsung Electronics, Intel, The Coca-Cola Company and others with over $229 billion market cap. The infographic and a tweet by crypto data analytics platform states that;
What if #bitcoin was a share and traded in the stock market?
Bitcoin could occupy the 26th place by capitalization among the global shares, with a value of 229 billion dollars (as of July 10, 2019) pic.twitter.com/BqF2yU7kzK
— DataLight (@DataLightMe) July 29, 2019
As per the data, Microsoft, Amazon, Apple, Facebook, Tencent Holdings are the top five countries with a market cap of $1045 billion, $973 billion, $946 billion, $482 billion and $434 billion respectively.
Looking at the data, major companies of the list are the oldest companies wherein Bitcoin is just a 10-year old currency, emerged in the market. It’s worth to note that, Bitcoin with no CEO, no team, no specific headquarter/company has touched the peak within a short period.
Despite the innovation Bitcoin is bringing into the financial industry, it has received several criticisms from the industry leaders, politicians, and economist. As such, United States President strongly opposes bitcoin he says that “he isn’t a fan of Bitcoin”.
Interestingly, Datalight points out that Bitcoin could rank even higher if it was treated as a share and traded on the stock market. This data is gathered with Bitcoin’s peak trading volume of this year, $229 billion on July 10, 2019.
Despite the criticism and arguments, Bitcoin still exists. On the same day in 2018, Bitcoin was trading at the figure of $8000 and currently, it’s trading value counts at $9505 against US Dollar. However, the value was quite higher during late June and early July, it was quietly trading at $13000. At the time of reporting, Bitcoin is losing its value with 0.29 percent over the past 24 hours and it’s trading volume counts at $169,636,990,443.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com