Following a bullish market trend in late July 2020, Bitcoin’s market capitalization saw a notable increase to cross a $200 billion threshold. As reported, the market capitalization of the largest cryptocurrency accounts for more than $207 billion, down from a $222 billion intraday-high recorded earlier, according to data from Coin360.
So Bitcoin’s market capitalization is currently worth more than shares of major companies like Intel and Coca-Cola. On July 31, shares of Intel and Coca-Cola closed at a market capitalization of $203 billion and $202 billion, according to data from Macro Trends.
Intel as a major global tech company, saw an increasing 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 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 it’s the highest 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 impact on markets, 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 kovid-19 pandemic. The drop eventually resulted in the company’s largest decline in quarterly revenue in at least 30 years, as reported.
In contrast, Bitcoin has been seeing multiple bullish moves this year,about 40%, in market cap since Jan. 1, 2020. The largest cryptocurrency by market cap has recently touched its new highs, crossing the $12,000 price mark on Aug. 2.