Bitcoin Surpasses Amazon, Becomes Fifth-Largest Asset Globally
- Bitcoin (BTC) reached an all-time high of $122,600, rising nearly 13% in the past week.
- Its market capitalization surpassed $2.4 trillion, overtaking Amazon’s $2.3 trillion and Alphabet’s $2.19 trillion.
- Over the past weeks, corporate Bitcoin holdings have doubled to over 265 companies holding Bitcoin on their balance sheets.
- A total of approximately 3.5 million Bitcoin is held in company treasuries, with public companies holding around 853,000 BTC.
- Spot Bitcoin ETFs recorded over $1 billion in net inflows last Friday alone, marking a seven-day investment streak.
The surge in Bitcoin’s price is attributed to increased institutional adoption and significant inflows from Bitcoin ETFs. Additionally, legislative efforts during “Crypto Week” aim to support the cryptocurrency industry through proposed bills.
With a market cap now only $730 million shy of Apple’s, Bitcoin’s rise reflects growing confidence and investment in digital assets as seen by the doubling of corporate holdings to over $2 trillion worth.(Source)
