As Bitcoin (BTC) matures, its proponents aim to elevate the cryptocurrency to the same status as established traditional investment products like stocks.
Indeed, Bitcoin is already showing signs of competing with conventional assets in various metrics, notably in trading volume, where it has surpassed giants like Apple (AAPL).
In this line, according to data acquired by Finbold, from November 20, 2023, to December 20, 2023, Bitcoin recorded an average daily trading volume of $22.52 billion, while Apple stock stood at least two times lower at $10.14 billion, marking a percentage difference of 75.71%.
The variance between the two asset classes is more evident when comparing their market capitalization. As of December 20, Apple commanded a market cap of $3.03 trillion, at least three times higher than that of Bitcoin, standing at $850 million.
Implication of Bitcoin’s high trading volume
The report acknowledged that Bitcoin and Apple belong to different asset classes, with the former being solely a virtual product and the latter having tangible products. However, the report highlighted the implications of the variation in trading volume. According to the research report:
“The trading volume underscores Bitcoin’s resilience, positioning the asset as an alternative investment to traditional options like gold, often considered a perennial hedge against inflation. In a highly speculative cryptocurrency market, the fact that Bitcoin surpassed Apple’s trading volume signifies that the asset cannot be dismissed merely as a market spectator.”
In the long run, it remains to be seen how Bitcoin can maintain its high trading volume advantage compared to Apple. More importantly, surpassing traditional stocks implies a significant shift in the financial world.