Actions And raw materials they lead the ranking of the most profitable investment classes globally. For some investors they represent safe haven assets, for others they are instruments of speculation, while for others they are simply parking lots of liquidity. In any case, analyze the ranking of Companiesmarketcap provides a clear indication of where global investor capital is concentrated.
Gold remains the best asset
At the top stands out thegoldwith a capitalization that today exceeds 18 trillion dollars. The precious metal, also purchased massively by the central banks of countries that do not depend on the dollar, has seen an acceleration in purchases since 2022, recording an increase of over 30% since the beginning of the year. Considered the ultimate store of value, gold does not distribute coupons (typical of stores of value), but its price continues to rise thanks to the combined effect of scarcity and increased demand, creating a misalignment between supply and demand.
Nvidia rose to second place in the ranking, with a rating higher than 3,600 billion dollars. The company has established itself as the gateway to artificial intelligence, a megatrend that is not only future but already very present, as demonstrated by the significant impacts in terms of efficiency on the latest quarterly reports of the “magnificent 7”. Nvidia has overtaken Apple, which is now in third place with a capitalization of 3.43 trillion dollars, after having dominated the top of the ranking for years, excluding gold. Then comes Microsoft, with a capitalization of 3,140 billion dollars.
Trump’s victory behind the increase in some assets
An interesting aspect concerns the‘“Trump effect” about these big techs. Since September 9, when the market began to seriously consider the possibility of a Trump victory in the US presidential election, Nvidia has seen a double-digit surge, while Microsoft and Apple have remained relatively stable. Although the quarterly results of Microsoft And Apple were less brilliant than usual, it cannot be ruled out that Nvidia, as Tesla (which has seen a 35% increase in the last month, rising to 12th place in the global ranking), is also benefiting from speculation about Trump’s protectionist policies, which could stimulate the production of electric vehicles and chips in the United States.
This explains why TSMC, the world’s main chip factory based in Taiwan, has remained stagnant on the stock market for the last month, without participating in the ongoing rally. Despite this, TSMC continues to be worth over $1 trillion and occupies 11th place in the ranking, ahead of Tesla. Meta, however, has been overtaken, giving way to Bitcoin.
The rise of Bitcoin
Speaking of Bitcoin, it deserves special attention: with a 80% increase since the beginning of the year, the cryptocurrency has reached a record capitalization of 1,500 billion dollars. Again, the Trump effect may have played a role. During the election campaign, Trump made significant promises in favor of Bitcoin and digital assets in general, declaring that he wants to turn the United States into the “world home of Bitcoin”, calling it “like the steel of 100 years ago”.
The top 20 of the most capitalized companies is dominated by big tech, but the ranking closes with giants such as WalMart (16th), followed by JP Morgan, Visa And UnitedHealth. The latter are consumer, credit and insurance companies, representatives of an “old economy” that continues to resist the digital wave fueled by artificial intelligence.
