Bitcoin has been on the rise as a global underdog on the trading floor. Investor confidence keeps rising higher and higher, and bitcoin is likewise performing better and better. Current trends in the market indicate that Bitcoin has been climbing the ladder so ferociously that it has even surpassed big fortune 500 companies and insanely experienced companies like the world-famous food and beverage company Coca Cola and tech industry leader Intel.
The reason behind the recent astronomic success
This new milestone in Bitcoin’s industrial journey and feather in its entrepreneurial cap comes along after a significant upward tick in its trading patterns strengthened massive investments and trading instances. This increase has been enormous and amounts to around a two hundred billion dollar gap in its trading capitalizations. This trend has been happening since last month this year. The company has had an even higher uptick this day at 222 billion dollars, and at an average, the capitalizations have settled at two hundred billion dollars.
A reason to Celebrate
These recent developments and capitulation developments have put Bitcoin’s share capacities over major industry veterans like Coca Cola and Intel. This means Bitcoin can be valued at a higher level than these two experienced companies, which is a huge deal if you see the life span of the big wig conglomerates with that of Bitcoin. Coca Cola has been around since ages, and Intel basically accelerated the progress of the whole world with its innovative processors. So for Bitcoin, a relatively younger company with merits of his own to be valued over them is only going to benefit it more. This will convince the investors who could not make up their mind about investing in Bitcoin to decide in its favor.
This new development may be affected by Intel’s recent poor performance on the trading floor. This may have been caused because of its lower than average market performance at the end of the sale. This led to doubts in the investor’s mind, and the company ended up losing as much as forty-five billion dollars. The global pandemic had also affected the market performance of Coca Cola, which forced it to experience a loss of over ninety billion dollars.
Whatever may be the reason, it still holds true that Bitcoin has performed exceptionally well in the recent lean times, which has helped maintain investor confidence.