Ethereum
Nvidia soars 2,782% in five years, outperforming Bitcoin and Ethereum
Key points to remember
- Nvidia’s market cap has increased by 2,782.8% over five years, outperforming both Bitcoin and Ethereum
- The combined market cap of Magnificent Seven, Bitcoin and Ethereum reached $17.44 trillion in June 2024
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Nvidia has seen a staggering 2,782.8% increase in its market capitalization over the past five years, outpacing the growth of Bitcoin and Ethereum. According to a report According to data aggregator CoinGecko, from May 7, 2019 to June 28, 2024, Nvidia’s market capitalization increased from $105.42 billion to $3.039 trillion.
In comparison, Ethereum’s market cap increased by 2,218.3%, from $18.16 billion to $421.00 billion during the same period. Bitcoin, starting from a higher baseline of $103.98 billion, saw its market cap increase by 1,102.2% to $1.25 trillion.
Among the Magnificent Seven stocks, only Nvidia outperformed the two major cryptocurrencies. Magnificent Seven is the name of the group of publicly traded companies Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Amazon (AMZN), Nvidia (NVDA), and Tesla (TSLA).
Tesla came in second with an increase of 1,340.8%, while other tech giants like Microsoft and Apple saw more modest growth of around 245%.
The combined market capitalization of the Magnificent Seven, Bitcoin, and Ethereum reached $17.44 trillion as of June 28, 2024, with the two cryptocurrencies accounting for 9.6% of that total.
However, the report highlights the divergence between Bitcoin and Ethereum growth after the SEC approved the first Bitcoin cash exchange-traded fund (ETF) in January 2024.
“Bitcoin’s market cap grew from $838.38 billion to $1.25 trillion, representing a 50% growth. During the same period, Ethereum’s market cap grew from $281.14 billion to $421 billion, also representing a 50% growth. This is not surprising, given that Ethereum is about to get its own ETF lineup. However, Ethereum’s market is significantly smaller than Bitcoin’s, so one might have expected a better performance from it.”
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