New data reveals a staggering difference between Apple’s (AAPL) trading volume when compared to Bitcoin’s (BTC).
A new finding by crypto site BitStacker shows that during the last full trading week for October, between the 24th and the 28th, volumes were 80 times higher for Bitcoin compared to Apple.
With BTC coming in at a total trading volume of $230 billion last week, compared to Apple’s $2,7 billion, reveals an over 8000% difference in volume.
This is also despite the fact that Apple’s market cap is over 6 times higher than that of Bitcoin.
Speculation and Inflation Hedge
Different factors are likely at play to explain the big difference in trading volume.
The crypto industry is still largely a speculators marketplace, despite recent years’ trend toward being a viable alternative investment vehicle.
For day traders and investors with a higher risk appetite, BTC with its volatility represents an attractive market for shorter-term trading, which can drive up volume.
This can be seen in contrast to established tech giant Apple which many investors will consider to be a more safe long-term investment.
Another upside to holding Bitcoin during the current financial climate is also expanded in the report:
“The fact that Bitcoin has long been hailed as the crypto to be utilized against inflation has very likely brought more eyeballs to the cryptocurrency. Something that can also have contributed to the trading volumes currently being seen. ”