Bitcoin With A Market Cap Rivaling Oracle And The World's Largest Brewing Company

15/08/2019

As the most popular cryptocurrency, Bitcoin has experienced rough years, with gains, plummets, and repeat.

In August 15th, 2019, Bitcoin hit a price of $10,311, a respectable 2.72% increase in the previous 24 hours. But still, this was far below its all-time high until this date, which was over $20,000 on December 2017.

But what makes it an achievement here is that, the cyptocurrency is valued at a market cap of $184,357,666,577, by commanding 69% of the total cryptocurrency market.

In other words, this is similar to Anheuser-Busch InBev's market cap, the largest beer brewing company which is also around $180 billion.

This is also roughly the same as China Mobile Hong Kong (CMHK) and Agricultural Bank of China.

In the tech sector, Bitcoin has a market cap surpassing Oracle.

Bitcoin

As the fastest growing asset class in history, Bitcoin couldn't be ignored in the financial world.

From sovereign wealth funds, institutional money managers, endowments, financial institutions, and even governments, they have all put their eyes on this cryptocurrency, to understand how the technology works, and how it can benefit their investment for at least in the foreseeable future.

Many predict that Bitcoin may soon surpass its all-time high. But this speculation about Bitcoin’s volatile nature had given more losses than gains, especially to alt traders.

But as the price of Bitcoin steadied, most alts followed.

Ether (ETH), which is considered the largest altcoin by market cap, performed almost identically to Bitcoin.