ICO News

Bitcoin would rank as 8th largest bank globally with $169 billion in market capitalization – InvestorIdeas.com

July 20, 2020 (Investorideas.com Newswire) Data gathered by Buy Shares indicates that Bitcoin would rank as the eighth largest bank globally with a market cap of $169.01 billion. The asset’s high cap correlates with its impressive 27.18% ROI on a Year-to-Date basis.

Bitcoin beats traditional markets in ROI

From the data, JP Morgan Chase’s cap of $433.5 billion, makes it the biggest bank in the world. Bitcoin would also rank lower than the Bank of America with a market cap of $306 billion. ICBC ranks third with a capitalization of $290.9 billion followed by China Construction Bank with a cap of $218.4 billion.

Wells Fargo is the fifth-largest bank globally with a market cap of just $35.3 billion more than Bitcoin’s. Other banks ranked higher in the market cap above Bitcoin are Agricultural Bank of China and Citigroup at $178.8 billion and $171.5 billion respectively.

Bitcoin’s current market cap has surpassed other major banks like HSBC that currently enjoys a cap of $157.5 billion. Other banks with lower market cap than Bitcoin include The Bank of China’s ($146.6 billion), China Merchants Banks ($137.7 billion), Royal Bank of Canada ($116.6 billion), HDFC Bank Limited ($112.7 billion), Toronto Dominion Bank ($103.3 billion), Commonwealth Bank of Australia ($101.6 billion), and Morgan Stanley( $93.09 billion).

Compared to the stocks of major banks, Bitcoin holds a positive Return of Investment based on Year-to-Date overview. Bitcoin has an ROI of 27.18% with China Construction Bank Corporation coming second with an ROI of 2.52%. The Industrial and Commercial Bank of China has returns of 19.5%. JP Morgan Chase has an ROI of -29.58% followed by Bank of America’s -34.07% while Wells Fargo has the worst returns at -53.62%.

From the ROI review, Bitcoin has remained resilient against all odds. According to the Buy Shares research report:

“In the first and second quarters of this year, the coronavirus pandemic wrecked the global economy leading to the crumbling of most stocks. Major stocks ROI has been in the red zone but Bitcoin appears not to have been impacted greatly. Largely, Bitcoin has remained resilient throughout this season despite occasional tumbling attributed to fear to spread from traditional markets.”

Currently, traditional markets are desperate for recovery mechanisms.

The full story, statistic and information can be read here: https://buyshares.co.uk/bitcoin-would-rank-as-8th-largest-bank-globally-with-169-billion-in-market-capitalization/

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow Us on StockTwits

News and Research for Bitcoin, Blockchain, Digital Currency Stocks and ICO's

Buy a crypto guest post on Investorideas.com


Leave a Reply