Samsung, SK Hynix close in on Bitcoin's market cap ranking

Samsung Electronics and SK Hynix have climbed to 14th and 15th place, respectively, in global market capitalization rankings, placing them just behind Bitcoin at 13th, according to data from CompaniesMarketCap on May 27. Samsung is now only one spot away from overtaking Bitcoin in what is known as a "flip," with SK Hynix two spots behind. On May 11, CoinNess reported that Bitcoin was ranked 11th while Samsung was 14th, representing a three-position gap. In just two weeks, Samsung's market capitalization has closed in on Bitcoin's. Meanwhile, CoinDesk noted that funds have been flowing into precious metals and major semiconductor firms this year, while Bitcoin's price has struggled.