The largest cryptocurrency by market cap wouldn’t make it to the top 10 most valuable companies in the world.
Bitcoin is Huge, But 49 Companies Are Bigger than That
As of July 30, Bitcoin’s total market cap is at $169 billion, according to Coinmarketcap data. The dominance level maintains above 64%, demonstrating that Bitcoin is still the boss in the cryptocurrency market. However, if it were a company, Bitcoin would be on the 50th place.
According to the Forbes Global 2000 list, which includes 2,000 largest public companies in the world, Apple was the largest company as of May 5, 2019. The iPhone maker boasted a market cap figure at $961.3 billion, followed by Microsoft and Amazon with $946.5 billion and $916.1 billion, respectively. Each of these three companies is about six times larger than Bitcoin.
The cryptocurrency would be placed on the 50th position in the Forbes list, between HSBC Group ($175.5 billion) and Citigroup ($161.1 billion).
The situation has changed as of July when most of the companies already presented their financial reports for the second quarter. Thus, Microsoft outperformed Apple and is the only one to exceed the $1 trillion mark as of today. In the updated list, which can be seen on Value Today website, Bitcoin would be on the 49th place. It would follow PetroChina ($172.5 billion) and precede HSBC Group ($168.9 billion).
Bitcoin’s market cap peaked at over $232 billion in July. That figure would have helped the cryptocurrency be the 26th largest company as per the Forbes Global 2000 list.
Crypto Market vs. Stock Market
All in all, this comparison shows that the crypto market accounts for only a tiny fraction of the stock market. The total value of all the companies listed on stock exchanges around the world was $68.6 trillion in 2018, according to World Bank data.
The market cap of the entire crypto market is $264 billion as of today. This suggests that the size of the crypto space is only 0.38% of the global stock market. We used dots to visualize the sizes of the crypto industry, Bitcoin, and stock markets.
Nevertheless, this discrepancy shouldn’t surprise you. First of all, the crypto space is still at its nascent stage. Secondly, it means that the industry has much room for growth. Crypto is already outperforming the stock market by a mile.
Do you think the bitcoin and crypto market will experience an inflow of capital in the next few years, including at the expense of stock markets?
Images via Shutterstock, World Bank, Bitcoinist
The post Bitcoin Is Amongst 50th Largest Companies In The World appeared first on Bitcoinist.com.
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