Bitcoin Surges 11.4% This Week Becomes Fifth Most Valuable Asset

Bitcoin (BTC) has surged to become the world’s fifth most valuable asset, with its market capitalization reaching $2.422 trillion after hitting a new all-time high on Monday. This milestone places Bitcoin ahead of retail giant Amazon, which has a market cap of $2.395 trillion. The cryptocurrency's meteoric rise has also surpassed other major assets such as silver, valued at around $2.187 trillion, and Alphabet (Google) at $2.186 trillion. Bitcoin's market cap is now only $750 million shy of Apple’s valuation of $3.114 trillion, making Apple the next potential target for Bitcoin to overtake.

The growing institutional adoption of Bitcoin has been a significant contributor to its rise. More companies are adding Bitcoin to their balance sheets, signaling increasing corporate confidence in the cryptocurrency. Approximately 3.5 million Bitcoins are currently held in company treasuries, with 853,000 BTC, or 4% of the total supply, in public company treasuries. This trend indicates a shift in corporate strategy towards embracing digital assets as a store of value.

Bitcoin's price has spiked 11.4% this week, driven by the growing demand from spot Bitcoin exchange-traded funds (ETFs). These ETFs accumulated over $1 billion worth of net positive inflows on Friday, marking a seventh straight day of investments. The substantial inflows from spot Bitcoin ETFs have been a key catalyst for Bitcoin’s upward momentum, reflecting the increasing interest and investment in the cryptocurrency market.

Despite Bitcoin's impressive performance, Gold remains the undisputed leader in terms of market capitalization, with a valuation of well over $22.49 trillion. This highlights the enduring appeal of traditional safe-haven assets, even as digital currencies gain traction. The competition between Bitcoin and other major assets underscores the evolving landscape of global finance, where digital currencies are increasingly recognized as viable investment options.