With a current market cap of over $ 208 billion, the leading cryptocurrency Bitcoin (BTC) overtakes beverage giant Coca-Cola and technology giant Intel! – What does this mean for the crypto market?
After a really strong last third in July, Bitcoin’s market cap rose significantly, hitting the important $ 200 billion threshold a few days ago. As of the writing, the market cap of the largest cryptocurrency is over $ 208 billion, compared to an intraday high of $ 222 billion recorded yesterday, according to Coin360.
Bitcoin worth more than big stocks
In terms of market capitalization, Bitcoin is currently worth more than stocks of large listed companies like Intel and Coca-Cola. According to Macro Trends, Intel and Coca-Cola shares closed on July 31 with a market capitalization of $ 203 billion and $ 202 billion, respectively.
After Intel released disappointing third-quarter earnings forecasts on July 22, the company’s market cap dropped below $ 259 billion and, according to Macro Trends, lost up to $ 45 billion by July 24. The last time that Bitcoin was able to leave the technology manufacturer behind, happened in the now historic bullrun of the second half of 2017. At that time, Intel had a capitalization of around USD 220 billion, with Bitcoin peaking at over USD 300 billion.