Bitcoin Surpasses Google Market Cap Reaching $2.138 Trillion

Bitcoin has achieved a significant milestone, surpassing Google in terms of market capitalization and becoming the sixth largest asset by market cap in the world. As of June 27, Bitcoin's market cap stands at $2.138 trillion, outpacing Google's market cap of $2.11 trillion. This remarkable achievement underscores the growing influence and acceptance of Bitcoin in the global financial landscape.

Bitcoin's price has been trading above $107,000, demonstrating resilience despite market volatility and significant options expiry on Deribit. The crypto industry has been closely monitoring the market's reaction to the expiry of over $17 billion in BTC and ETH options on Deribit, marking the largest expiry event of the year so far. Despite this, Bitcoin's price has shown a bounce back after a brief drop, reflecting the increased optimism within the industry.

Several factors contribute to Bitcoin's price resilience and the overall optimism in the crypto industry. One of the key drivers is the growing institutional interest in Bitcoin. The US housing system's recent recognition of BTC and crypto as eligible for mortgage assets highlights the global adoption and recognition of digital assets. Additionally, BTC ETFs in the US recorded over $228 million in inflows on June 26, with the total net assets in BTC ETFs exceeding $133.5 billion and the cumulative net inflow surpassing $48.3 billion, according to data from SoSoValue.

Another significant factor is the end of the Iran-Israel war, which has fueled optimism in the crypto industry. Furthermore, Bitcoin-centric companies and countries continue to accumulate BTC. For instance, Bhutan, which started mining Bitcoin in 2020, has saved enough to account for 40% of its entire GDP and now holds the third-largest BTC reserve in the world. This accumulation strategy is also being pursued by countries like El Salvador and companies such as Strategy₿ and Metaplanet.

Despite the uncertainty and geopolitical tensions, Bitcoin and the entire crypto industry continue to be surrounded by optimism. The prospects of a better future, driven by continued global adoption and industry growth, position Bitcoin on a trajectory to reach new all-time highs soon. Bitcoin's next target is to surpass Amazon, which is currently valued at over $2.3 trillion in market cap, further solidifying its position as a leading global asset.