Kamath, who is also the founder of True Beacon, said via his Twitter account, “All futuristic stuff crypto sells, if anyone has it. Apple Shares today versus bitcoin. As an asset class, with Apple you have $100 billion in real-world income per year.”
On Monday, the co-founder of the stock trading platform directed that 9 times out of 10, when things don’t go according to you, the best thing to do is to do nothing, “in and out of life.” Market,
He also said, “From a market point of view, doing nothing, getting out of everything and then doing nothing.
Apple and Bitcoin are both leaders in their respective fields. Apple is currently the largest firm in the technology sector in terms of market share, while Bitcoin is the leader in the global crypto markets.
Let’s understand the performance of Apple and Bitcoin.
At around 12 p.m. ET, Apple shares are trading up 0.56% at $132.62. The shares have touched intraday highs and lows of $133.80 and $131.48. At the current price level, Apple has a market valuation of $2.16 trillion.
Apple’s shares closed at $131.88 per share on the previous day.
Apple has touched a breath-taking mark when it comes to market capitalization. In January this year, Apple became the first company to hit the $3 trillion milestone and even clocked a 52-week high of $182.94.
Currently, the iPhone is the second largest company in the world in terms of market cap, a few billion dollars behind Saudi Aramco, which has a market cap of about $2.29 trillion.
Shares of Saudi Aramco closed down 0.89% on Tuesday at $39.05.
Apple has given good returns to investors in the last five years.
Taking into account Monday’s price levels, Apple saw a weekly decline of more than 11%, according to historical data from Nasdaq. While its monthly decline was a little over 9%. In six months, Apple shares have fallen a little more than 24%, while the year-over-year decline is more than 27.54%.
The market has been volatile since Russia’s invasion of Ukraine, which caused a huge jump in the prices of oil and other commodities, adding to inflationary pressures and resulting in higher interest rates. Stock markets are currently trading volatile and a bearish trend is expected to continue in the near term due to deteriorating inflation outlook. Fears of a possible recession have also added to the crisis.
“The majority view is that the Fed will have to move aggressively with a 75 bp rate hike to control inflation and establish its credibility,” said Dr VK Vijayakumar, chief investment strategist at Geojit Financial Services.
US inflation hit a 40-year high of 8.6% in May, one of the highest rates in the world.
After the current situation, Apple’s shares have also risen. The company’s shares have risen only marginally by 1.07% in a year. The shares were at $130.48 per piece on June 14 last year.
However, Apple’s shares jumped 263.41% sharply. As of June 14, 2017, shares were available at just $36.29 per share, according to Nasdaq data.
Apple’s strong business portfolio, track record of significant long-term growth, its market share in the mobile industry, financial success, and simply the fact that it’s a well-known star company with strong management and regulatory back-up – make the tech giant better and better than most of the crypto assets. Wise investment option in comparison.
Apple Inc.’s revenue from gaming and music offerings is expected to grow 36 percent to $8.2 billion by 2025 as the iPhone maker expands its vast user base to power its subscription services, JPMorgan said on Monday, according to a Reuters report. taps. The two services are expected to have a combined customer base of around 180 million by 2025 – 110 million for music and 70 million for gaming – fueled by the rapid proliferation of the Internet and the booming gaming industry.
Talking about the cryptocurrency leader Bitcoin, the cryptocurrency is trading down 5.8% at $22,637.75, according to data from Coingecko. Its market dominance has fallen to 43.163% with a market capitalization of $431.64 billion.
To date, Apple’s market is over five times that of Bitcoin. Not only that, Apple’s valuation is more than twice the market capitalization of the entire global crypto market.
At Coingecko, 13,417 cryptocurrencies have a total market cap of $999.74 billion. Whereas at CoinMarketCap, 19,859 cryptocurrencies currently have a total market cap of $956 billion.
Data from CoinGecko shows a weekly drop of around 28% for Bitcoin. Whereas its monthly decline is a little more than 25 percent. Bitcoin is down more than 42% annually. In five years, bitcoin has jumped about 722%. It needs to be noted that performances are tracked looking at the current price level, and hence they are bound to change as per the volatility.
A decentralized cryptocurrency, bitcoin was originally described in a 2008 white paper by an unidentified person. Later in 2009, the cryptocurrency was made available for trading without any source from its management or owner. No one knows to this day who invented this digital coin, however, many speculations and names have emerged. ‘Satoshi Nakamoto’ is believed to be a person pseudonymous as the inventor of bitcoin, or a person claiming to be based in Japan. However, these speculations are yet to be confirmed. But that didn’t stop the frenzy in bitcoin.