Bitcoin’s Trading Volume Higher Than That Of Apple, Microsoft, And Amazon Combined
Data presented by Crypto Parrot indicates that Bitcoin’s 30-day average daily trading volume stands at $39.1 billion, which is more than the U.S. top five companies with $37.68 billion in 30-day average daily trading volume.
Top 5 U.S. companies in recovery mode
The companies include Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOGL), and Facebook (FB). The volume was recorded between December 1 and December 31, 2020.
Apple’s 30-day average daily trading volume stands at $13.63 billion while Amazon recorded $11.42 billion. Microsoft’s trading volume over the period was at $5.92 billion followed by Facebook’s $4.38 billion while Alphabet’s is fifth at $2.31 billion.
Although Bitcoin and the highlighted stocks represented a different class asset, the digital currency’s high trading volume is impressive. It correlates with a period Bitcoin attained a new all-time mainly due to adoption by institutional investors.
The research reflected on the trading volume between Bitcoin and the companies during the period. According to the research report:
“While Bitcoin’s trading volume has taken off, the average daily trading volume of the highlighted stocks was still in a recovery mode following the impact of the coronavirus pandemic. At the onset of the health crisis, the stock market collapsed but interestingly, the covered stocks from the technology sector remained resilient. The stocks’ parent products helped people navigate the pandemic and led the recovery of the stock market. The $37.68 billion trading volume is at the period the economy received a major boost with the approval of a coronavirus vaccine.”