Bitcoin Surges 2% to $121,062, Surpassing Amazon's Market Cap

Bitcoin (BTC) has continued its remarkable price surge, reaching over $120,000 and surpassing the market capitalization of e-commerce giant Amazon, which stands at $2.38 trillion. This achievement places Bitcoin just behind gold, Nvidia, Microsoft, and Apple in terms of market capitalization. According to a recent post by crypto analyst Crypto Rover, Bitcoin now has a market capitalization of $2.43 trillion at a price of $122,304, compared to Amazon’s $2.38 trillion. The chart also indicates that Bitcoin is closing in on Apple, which currently holds a market cap of $3.15 trillion. Gold remains the top global asset, with a massive $22.64 trillion valuation.

Several factors are driving Bitcoin’s explosive rally, with institutional interest being a key driver. This interest is nearing all-time high levels. Crypto investment products saw inflows of $3.7 billion last week, marking the second-largest weekly inflow ever. This surge in institutional interest is seen as an extremely bullish signal for the cryptocurrency market. Additionally, data from SoSoValue reveals that total net assets held in spot Bitcoin exchange-traded funds (ETFs) have reached $150 billion, representing over 6.4% of BTC’s total market capitalization.

As Bitcoin gains traction as a reliable store of value, more corporations are adding BTC to their treasuries. Michael Saylor’s MicroStrategy remains the largest corporate holder of Bitcoin and continues to expand its position. The company announced that it had acquired an additional 4,225 BTC for $472.5 million at an average price of $111,827 per BTC. MicroStrategy now holds 601,550 BTC, valued at $42.87 billion at an average cost of $71,268 per coin. Similarly, Japanese investment firm Metaplanet, often dubbed “Asia’s MicroStrategy,” revealed it had purchased 800 BTC. The company now holds 16,532 BTC and has set an ambitious target to accumulate 210,000 BTC by the end of 2027.

A recent report from institutional research firm Blockware Intelligence predicts that as many as 36 more companies could add BTC to their balance sheets by the end of 2025. This is likely to further cement BTC as a reliable store of value. Adding to the bullish outlook, Bitcoin’s available supply on crypto exchanges continues to decline amid growing demand. This supply squeeze could further propel prices higher in the near term. At press time, BTC trades at $121,062, up 2% in the past 24 hours.