• Bitcoin Is Now Larger Than Walmart, Netflix, Coca-Cola, Pepsi And McDonald's Combined

    Source: Buzz FX / 12 Nov 2024 15:35:23   America/Chicago


    Leading cryptocurrency Bitcoin (CRYPTO: BTC) is smashing through new all-time highs following the 2024 presidential election and is now valued significantly higher than many publicly traded companies.





    What Happened: Bitcoin's market capitalization is currently $1.765 trillion. That’s larger than the combined market capitalization of the following five companies:






    • Walmart Inc (NYSE:WMT): $686.9 billion




    • Netflix Inc (NASDAQ:NFLX): $349.7 billion




    • Coca-Cola (NYSE:KO): $273.4 billion




    • PepsiCo (NASDAQ:PEP): $225.5 billion




    • McDonald's Inc (NYSE:MCD): $214.5 billion




    • Total: $1.75 trillion





    That's right. Bitcoin is worth more than the combined valuations of one of the world's largest retailers, a global streaming leader, two global beverage leaders, and a global fast-food chain.





    Read Also: Bitcoin Nears $90,000—How High Can The Apex Crypto Go?





    Why It Matters: It’s worth noting that there are currently just nine global companies that have a market capitalization of $1 trillion or more. Bitcoin would take seventh place if it was considered a publicly traded company.





    Based on Tuesday's market capitalization level, Bitcoin would currently rank between Saudi Aramco, which has a $1.807 trillion valuation, and Meta Platforms (NASDAQ:META), which has a $1.476 trillion valuation.





    Bitcoin has traded between $34,948.50 and $89,956.88 over the past year with the one-year high also setting a new all-time high on Nov. 12.





    What’s Next: Bitcoin has blasted higher through multiple all-time highs. Traders and experts are now questioning if $100,000 is within reach by the end of the year.





    If Bitcoin continues to trade higher, the leading cryptocurrency will likely continue to be more valuable than many of the most well-known global brands.





    President-elect Donald Trump took a pro-crypto stance throughout the 2024 election campaign. Now, many industry experts expect the U.S. government to loosen sector regulations.





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    Image: Unsplash


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