Bitcoin Flips Amazon’s $2.3T Market Cap, Becomes Fifth-Largest Asset

Update July 14, 9:33 AM UTC: This article has been updated to include quotations from Brickken’s Market Analyst.

Bitcoin has become the fifth largest asset in the world and overtaken Amazon by market capitalization.

Bitcoin (BTC) The price increased to New high high high On Monday, from $ 122,600 and nearly 13%rose in the last week, as Caintelegraph informed.

These profits allowed Bitcoins to overcome the market capitalization of $ 2.4 trillion, overtaking Amazon $ 2.3 trillion, Silver’s $ 2.2 trillion and (Google) $ 2.19 trillion, $ 2.19 trillion, $ 2.19 trillion, Companiesmarketcap The data shows.

This means that the Bitcoin market ceiling was only $ 730 million at the time of writing.

*The largest global assets of market capitalization. Source: Companiesmarketcap*

According to Enmanuel Cardozo, market analyst signals the growing presence of bitcoins in the global financial system property in the real world Tokenization platform Brickken. Said Cointlegraph:

“In institutional giants, such as Blackrock and Microstrategy’s Treasury, the Treasury is constantly growing, the legitimacy of Bitcoins as an investable assets is no longer doubtful, with regulatory momentum.”

The ongoing institutional accumulation and “support macro environments can also help Bitcoins overcome Apple awards, which would mean the price of bitcoins over $ 142,000, Cardozo said.

Investors are not only focused on Apple; The market ceiling of Microsoft is also in the cross wings. That would mean Bitcoin price of $ 167,000, which “is not out of the area, given the massive demand from Bitcoin ETF,” he added.

A new bitcoin record comes in the middle of the period of growing institutional adoption, which has recorded a double Bitcoins since June 5th. Up to 124 only weeks before.

A total of 3.5 million bitcoins are held at company cash registers, with 853,000 BTC, or 4% of the total offer, in a public company and more than 1.4 million BTC, or 6.6% of the offer, through funds traded on Bitcoin Exchange (ETF).

Bitcoin ETF Purchase Spree Bolsters BTC BTC

The US Spot Bitcoin ETF ended last week with a seven -day shopping lane, which added significant liquidity for the Bitcoin price.

Spot Bitcoin ETF on Friday accumulated a clean influx worth over $ 1 billion, which meant the seventh day in succession investment, investors Farside Investors data show.

The Bitcoin ETF Spot influx was an important catalyst for the rise of bitcoins to the new maximum.

*Bitcoin ETF Flow (USD, Million). Source: Farside Investors*

In February 2024 they charged ETF 75% of new investments to bitcoins for two weeks. This activity helped drive the price of BTC over $ 50,000.

The price of bitcoins can also benefit from increased interest due to an event called the US government as a “crypto week”. The legislators seek to approve three key accounts for cryptocurrency, which are expected to strengthen the national crypto industry: leadership and introduction of national innovation for American stablecoins, or Genius ActAct on the Clarity of the Digital Property Market (Clear Act) and the Anti-CBDC State Act, which is trying to prevent the creation and Digital Currency Central Bank (CBDC).