Bitcoin Surpasses Google’s Parent Company in Market Cap, Becoming Fifth Most Valuable Asset
Bitcoin recently made headlines by briefly overtaking Google’s parent company, Alphabet, to become the world’s fifth most valuable asset. According to data from CompaniesMarketCap, Bitcoin’s market valuation peaked at around $1.87 trillion, surpassing Alphabet’s $1.859 trillion.
This milestone generated a buzz in the crypto industry, with analysts interpreting it as a significant step towards Bitcoin’s mainstream acceptance in traditional finance. Andre Dragosch, Head of Research at Bitwise Europe, highlighted the growing importance of Bitcoin in institutional portfolios, stating that it is “becoming harder and harder for asset managers to ignore [BTC].”
Although the flip was short-lived, with Alphabet reclaiming its position shortly after, Bitcoin still maintains a market cap of approximately $1.856 trillion, outperforming silver, Amazon, Meta, and Saudi Aramco.
Despite its impressive market cap, Bitcoin is relatively small compared to other global asset classes. Real estate, global debt, and gold are valued at significantly higher figures, with real estate standing at around $635 trillion, global debt at $141 trillion, and gold at approximately $23 trillion.
Bitcoin’s Market Momentum and Recent Developments
Bitcoin’s ascent in market valuation follows a recent price rally that propelled its price above $94,000, reversing a period of lackluster performance. Factors such as macroeconomic shifts and positive investor sentiment have contributed to this upward momentum.
A key catalyst for Bitcoin’s surge was a statement made by US Treasury Secretary Bessent on April 22, emphasizing the importance of de-escalating tensions with China. This shift in trade dynamics bolstered investor confidence in risk assets, including cryptocurrencies.
Furthermore, US-based spot Bitcoin exchange-traded funds (ETFs) experienced a record-breaking daily inflow of $912.7 million, signaling renewed institutional interest in the crypto market. Bloomberg Intelligence noted that Bitcoin’s improved price stability and reduced volatility, particularly when compared to equities following the April 2 tariff shock, could prompt more public companies to consider incorporating crypto assets into their treasury strategies.