In the world of investments, people have different options, and the idea is to look for the ones that offer the best benefits, but with which you feel comfortable. That’s why this time we’ll compare the performance of Amazon shares with that of Bitcoin. How many Amazon shares can you buy with 1 Bitcoin?
Amazon’s stock performance in the last few days
Amazon is widely known worldwide, especially for providing online retail shopping services.
In addition, Amazon’s web services segment is dedicated to global sales of computing, storage, database, and AWS service offerings to start-ups, government agencies, and academic institutions.
This company has been in the news in recent days because its shares jumped 5.8% in one day, reaching US$ 3,057.04. This was the first share closing above US$ 3,000. Amazon shares have shot up 65% in 2020.
One thing that may help explain this is the optimism about an economic rebound in China, along with strong activity data from the U.S. service industry. Indirectly, this also reflects that investors are avoiding concerns about rising COVID-19 cases.
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Bitcoin and Amazon Performance Comparison
The technology sector has played a crucial role in the fastest recovery of the Nasdaq, compared to the Dow Jones and the S&P 500. Among the companies that have influenced the improvement of this index we have Amazon leading.
The rate of adoption of Internet-based services and applications has increased rapidly as people are forced to stay indoors. So perhaps technology companies like Amazon have weathered the crisis a little better.
Analysis of both markets
Initially, it was said that people would be selling their cryptomoney to have monetary liquidity. But then there was talk that people might be using government bonds to invest in either stocks or Bitcoin while they were still low.
The truth is that neither possibility was an absolute truth. While investors were waiting to see what would happen with Bitcoin’s Halving, many „weak hands“ sold their BTCs in March during „Black Thursday.
Equally, stocks fell considerably. That’s why there has been talk ever since of a possible correlation between the stock market and Bitcoin.
In terms of price, we can currently mention that Immediate Bitcoin is valued at US$ 9,269.55 at the time of writing. This represents a 0.19% increase from yesterday.
At first glance we can see that one Bitcoin can buy three Amazon shares.