Bitcoin All-Time High Propels It Past Amazon, Google To 5th Place Among Global Assets
On May 21, Bitcoin (BTC) reached an all-time high (ATH) near $110,000, driven by strong buying pressure, elevating its market capitalization to over $2.1 trillion. Bitcoin now ranks fifth in global market capitalization, surpassing companies like Amazon and Google. Its market cap is approximately $2.182 trillion, trailing only behind Apple, NVIDIA, Microsoft, and gold, which has a capitalization exceeding $22 trillion. Gracy Chen from Bitget expressed optimism that Bitcoin could surpass gold in market cap within the next few years, potentially increasing two to threefold in price. Bitcoin's role has shifted from being viewed as "digital gold" to a more risky asset correlated with traditional markets, especially with the expected approval of spot Bitcoin ETFs in 2024. Analysts predict a potential surge to $150,000 by 2025, citing positive regulatory developments and historical price cycles following halving events. As of the latest data, BTC is trading at $109,570, reflecting a 3% increase over 24 hours and 25% over 30 days.
