Comparing CryptoCurrencies & The Magnificent Seven Stocks
The ‘Magnificent Seven’ stocks, including Apple, Microsoft, Alphabet, Meta Platforms, Amazon.com, Nvidia, and Tesla, have displayed remarkable growth in recent years, outperforming the broader market and contributing significantly to shareholders’ returns. On the other hand, cryptocurrencies like Bitcoin and Ethereum have also shown impressive market cap growth, surpassing even the top-performing stocks from the Magnificent Seven. Let’s delve deeper into how these different asset classes have fared over the past five years and how they stack up against each other.
The Rise of The Magnificent Seven Stocks
The Magnificent Seven stocks have been dominating the market, with their market caps skyrocketing over the past five years. Here’s how some of the key players in this elite group have performed:
– Microsoft (MSFT): Market cap grew from $961.84 billion to $3.322 trillion, a 245.40% increase
– Apple (AAPL): Market cap surged from $933.37 billion to $2.230 trillion, marking a 246.10% growth
– Nvidia (NVDA): Witnessed a staggering rise in market cap from $105.42 billion to $3.039 trillion, a remarkable 2782.80% increase
– Alphabet (GOOGL): Market cap escalated from $818.42 billion to $2.258 trillion, posting a 175.90% growth
These companies have collectively reached a market cap of around $15.770 trillion, showcasing an impressive 262.5% increase from their levels five years ago.
Comparing Crypto Giants: Bitcoin & Ethereum
While the Magnificent Seven stocks have earned their place as the top performers in the traditional stock market, Bitcoin and Ethereum have shown remarkable growth within the crypto space. Here’s how the two leading cryptocurrencies have fared in terms of market cap growth over the past five years:
– Bitcoin (BTC): Market cap surged from $103.98 billion to $1.250 trillion, a substantial 1102.20% increase
– Ethereum (ETH): Market cap skyrocketed from $18.16 billion to $421 billion, an impressive 2218.30% growth
Nvidia Leads the Way in Outperforming Crypto
Among the Magnificent Seven stocks, Nvidia stands out as the only company that has outperformed both Ethereum and Bitcoin in terms of market cap growth over the last five years. Its market cap soared from $105.42 billion to $3.039 trillion, showcasing a remarkable 2,782.8% increase. As of June 28, 2024, Bitcoin and Ethereum collectively represent 66.9% of the total crypto market cap, with Bitcoin holding a share of $1.250 trillion (49.9%) and Ethereum at $421 billion (17.0%).
Market Cap Comparison: Magnificent Seven vs. Bitcoin & Ethereum
As of June 28, 2024, the combined market caps of the Magnificent Seven stocks, Bitcoin, and Ethereum amount to $17.44 trillion. Both Bitcoin and Ethereum have shown significant market cap growth over the past five years, with Nvidia and Ethereum leading the way with explosive growth rates of 2,782.8% and 2,218.3%, respectively.
Diverging Paths of Bitcoin & Ethereum
Bitcoin and Ethereum have experienced various market fluctuations, influenced by events such as payment platforms integrating cryptocurrencies and regulatory decisions impacting their values. Despite sharing some milestones, including the approval of Bitcoin ETFs by the SEC, Ethereum’s market cap still lags behind Bitcoin’s, reflecting a divergence in their performance.
Research Methodology
This analysis compared the market caps of the Magnificent Seven stocks with Bitcoin and Ethereum as of June 28, 2024. Market cap data for the stocks was sourced from ycharts, while data for Bitcoin and Ethereum was obtained from CoinGecko.
Hot Take: Making Sense of Market Dynamics
As an investor in both traditional stocks and cryptocurrencies, it’s crucial to monitor the performance and growth of assets like the Magnificent Seven stocks, Bitcoin, and Ethereum. Understanding the market dynamics and how different assets stack up against each other can help you make informed investment decisions and capitalize on the opportunities presented by these dynamic markets.
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