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Bitcoin Market Cap Is Now Bigger Than Intel or Coca-Cola


03 Aug 2020   #Bitcoin

Bitcoin overtakes Intel and Coca-Cola at a market capitalization of $205 billion. Amid a major bullish trend on cryptocurrency markets, Bitcoin’s (BTC) market capitalization is outstripping some major publicly traded companies like Intel and Coca-Cola.

Following a bullish market in late July 2020, Bitcoin’s market cap saw a significant increase to cross a $200 billion threshold. As of press time, the market cap of the largest cryptocurrency accounts for more than $207 billion, down from a $222 billion intraday-high recorded earlier today, according to data from Coin360.

As such, Bitcoin is currently worth more than shares of major global companies like Intel and Coca-Cola in terms of market capitalization. On July 31, shares of Intel and Coca-Cola closed at a market cap of $203 billion and $202 billion, respectively, according to data from Macro Trends.

Intel sees a sharp sell-off in recent days


A major global tech company, Intel saw a notable decline in market share in recent days. After Intel posted disappointing Q3 earnings guidance on July 22, the company’s market cap dropped below $259 billion to subsequently lose as much as $45 billion by July 24, according to data from Macro Trends.

This is not the first time when Intel was left trailing behind Bitcoin by market capitalization though. Over the course of 2017, Intel’s market cap did not go higher than $220 billion, while Bitcoin’s market cap crossed a $300 billion threshold in its historic bullish run of 2017, when BTC hit its all-time high of $20,000.

Coca-Cola’s market has been trailing below $200 billion since March


Amid coronavirus-fueled uncertainty, beverage giant Coca-Cola suffered a major sell off earlier this year. In March 2020, Coca-Cola lost more than $90 billion in market cap over the course of one month as a consequence of the global pandemic. The drop eventually resulted in the company’s largest decline in quarterly revenue in at least 30 years, as reported last week.

In contrast, Bitcoin has been seeing multiple bullish moves this year, up more than $80 billion, or about 40%, in market cap since Jan. 1, 2020. The largest cryptocurrency by market cap has recently touched its new 2020 highs, crossing the $12,000 price mark on Aug. 2.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 88.4% 18 $48 101.01 -1.04% 6.47% $905 262 575 460 $28 021 987 878
2 Ethereum (ETH) ETH Ethereum predictions 76.8% 50 $3 430.91 -1.88% 4.04% $403 417 209 620 $15 155 668 793
3 Cardano (ADA) ADA Cardano predictions 65.2% 67 $2.38 -0.32% -6.56% $76 364 608 747 $1 927 219 461
4 Binance Coin (BNB) BNB Binance Coin predictions 66.4% 71 $410.12 -1.78% 1.28% $68 957 107 188 $1 163 780 637
5 Tether (USDT) USDT Tether predictions 95.2% 1 $0.999803 -0.05% -0.05% $68 279 043 875 $57 408 692 058
6 XRP (XRP) XRP XRP predictions 70% 61 $1.077641 -0.90% 0.33% $50 242 031 168 $2 097 769 961
7 Solana (SOL) SOL Solana predictions 60.8% 90 $161.29 3.35% -7.98% $47 897 095 877 $5 138 544 996
8 Polkadot (DOT) DOT Polkadot predictions 63.6% 81 $34.05 -2.83% 9.43% $33 627 591 217 $1 605 274 866
9 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 75 $0.240548 -1.51% -0.25% $31 593 090 111 $898 806 581
10 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $0.999820 -0.04% -0.06% $29 399 699 410 $1 988 255 536
11 Avalanche (AVAX) AVAX Avalanche predictions 64.4% 69 $70.12 -5.67% 12.00% $15 445 717 704 $1 565 203 527
12 UniSwap (UNI) UNI UniSwap predictions 67.6% 62 $24.45 -2.13% 7.30% $14 956 032 156 $256 841 668
13 Terra (LUNA) LUNA Terra predictions 69.2% 64 $35.69 0.71% -13.03% $14 335 506 252 $795 175 976
14 Chainlink (LINK) LINK Chainlink predictions 72% 52 $28.32 -2.28% 4.96% $12 841 262 235 $944 405 711
15 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $0.999583 -0.07% -0.06% $12 808 220 946 $4 549 677 503

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