Nvidia has skilled a staggering 2,782.8% enhance in market capitalization over the previous 5 years, surpassing the expansion of each Bitcoin and Ethereum. In keeping with a report by information aggregator CoinGecko, from Could 7, 2019, to June 28, 2024, Nvidia’s market cap surged from $105.42 billion to $3.039 trillion.

As compared, Ethereum’s market cap grew by 2,218.3%, rising from $18.16 billion to $421.00 billion throughout the identical interval. Bitcoin, ranging from the next baseline of $103.98 billion, noticed its market cap enhance by 1,102.2% to succeed in $1.250 trillion.

Among the many Magnificent Seven shares, solely Nvidia outperformed each main crypto. Magnificent Seven is the identify of the group of public-listed corporations Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Amazon (AMZN), Nvidia (NVDA), and Tesla (TSLA).

Tesla got here in second with a 1,340.8% enhance, whereas different tech giants like Microsoft and Apple noticed extra modest progress of round 245%.

The mixed market cap of the Magnificent Seven, Bitcoin, and Ethereum reached $17.44 trillion by June 28, 2024, with the 2 crypto accounting for 9.6% of this complete.

Nonetheless, the report highlights the divergence between Bitcoin and Ethereum progress after the SEC authorised the primary spot Bitcoin exchange-traded funds (ETF) in January 2024.

“Bitcoin market cap increased from $838.38 billion to $1,250.00 billion, representing 50% market cap growth. In the same period, Ethereum market cap increased from $281.14 billion to $421.00 billion, also representing a 50% growth. This is not surprising, given that Ethereum is set to get its own lineup of ETFs. However, Ethereum’s market is significantly smaller than Bitcoin’s, so one might have expected better performance from it.”