Sub-$22K Bitcoin looks juicy when compared to gold’s market capitalization
2022.07.19 08:30
Sub-$22K Bitcoin looks juicy when compared to gold’s market capitalization
Bitcoin‘s (BTC) price is down 56% year-to-date, but the correction was not strong enough to remove the digital asset from the list of top-20 global tradable assets. Bitcoin’s current $400 billion market capitalization stands higher than traditional companies like Exxon Mobil (NYSE:XOM), Walmart (NYSE:WMT) and Procter & Gamble, but there’s always the question of whether a direct comparison between a commodity like Bitcoin and equities is valid.
Analysts and investors favoring stocks constantly remind crypto advocates that Exxon Mobil posted $25.79 billion in earnings over the past 12 months, as a justifying example of its valuation. But on the flip side, earnings don’t necessarily explain how Boeing (NYSE:BA) booked $16.1 billion losses in two years, even as it holds an $87.1 billion market capitalization.
