Bitcoin Overtakes Amazon in Market Valuation
Bitcoin (BTC) has reached a significant milestone, becoming the world’s fifth most valuable asset with a $2.422 trillion market capitalization. This achievement places it ahead of Amazon, which currently holds a $2.395 trillion valuation. The cryptocurrency reached an all-time high of $122,838 before stabilizing slightly lower.
Setting Sights on Apple
With Apple valued at $3.114 trillion, Bitcoin now sets its sights on the tech giant. To surpass Apple, Bitcoin would need to reach approximately $159,000 per coin, assuming Apple‘s valuation remains constant. This potential highlights Bitcoin‘s growing influence in global markets.
Institutional Adoption Driving Growth
Corporate adoption continues to fuel Bitcoin‘s rise. Currently, institutions hold about 3.5 million Bitcoins, with public companies accounting for 853,000 BTC (4% of total supply). This growing corporate treasury allocation demonstrates increasing confidence in Bitcoin as a reserve asset.
Spot ETFs Accelerate Momentum
Spot Bitcoin ETFs have significantly contributed to recent price movements. According to Farside Investors, these funds attracted over $1 billion in net inflows during a seven-day streak, reflecting strong institutional demand through regulated channels.
Gold Maintains Dominance
Despite Bitcoin‘s remarkable ascent, gold remains the undisputed leader with a $22.49 trillion market cap. While Bitcoin continues gaining ground, challenging gold‘s position would require sustained adoption and price appreciation.
