BTCvsMarkets

BTC Hits $1.86 Trillion, Breaks $94K Amid Tech Rally and Easing Trade TensionsBitcoin (BTC) has officially become the fifth-largest asset in the world by market capitalization, surpassing Google (GOOG) after climbing to a market cap of $1.86 trillion. The milestone comes as Bitcoin breaks above $94,000, driven by a combination of macro optimism, strong technical momentum, and a broader rally in tech assets.This is Bitcoin’s highest-ever position in global asset rankings, overtaking one of the world’s most valuable tech giants despite previously reaching a higher market cap above $2 trillion in late 2024. At that time, valuations for large-cap tech stocks were significantly more elevated than they are today, making the current ranking even more significant.Bitcoin Outpaces Tech as Tariff Relief Fuels RallyBitcoin’s breakout past $94,000 reflects renewed market confidence following easing tensions in the U.S.–China trade standoff. On April 22, U.S. President Donald Trump signaled that import tariffs on Chinese goods would “come down substantially,” prompting a broad risk-on rally across global markets.Nasdaq futures rose 2% on the news, but Bitcoin outperformed, not only breaking resistance but also establishing new highs relative to the Nasdaq index, a key benchmark for high-growth tech assets.Technical Breakout Confirms Macro RepricingFrom a technical standpoint, Bitcoin has now cleared multiple key resistance levels, confirming its breakout across both absolute and relative metrics. Market analysts note that BTC’s strong performance against the Nasdaq signals a broader repricing of Bitcoin as a macro asset, rather than just a risk-on technology trade.“Bitcoin is not just keeping up with tech — it’s breaking out against it,” noted a market strategist on X. “This shift in market cap rankings shows a redefinition of what top-tier global assets look like.”Bitcoin's Market Cap Rankings — April 23, 2025As of today, Bitcoin ranks #5 among global assets, ahead of Google and closing in on the next tier:Gold – $14.4 trillionApple – $2.85 trillionMicrosoft – $2.75 trillionSaudi Aramco – $2.07 trillionBitcoin – $1.86 trillionGoogle (Alphabet) – $1.84 trillionBitcoin as a Macro BenchmarkAnalysts suggest that Bitcoin’s ascension in the global asset rankings reflects its growing role as a hedge, not just against inflation, but against geopolitical and monetary instability. With renewed institutional interest and ETF inflows accelerating, Bitcoin is increasingly viewed as a macroeconomic benchmark, not just a crypto asset.“Bitcoin's rise past Google marks more than a symbolic moment,” said a strategist at 10x Research. “It highlights a shift in how capital allocators are thinking about long-term stores of value.”

Russia’s Central Bank Explores Digital Assets Amid Trade Shifts
Russia, she added, is adapting by developing alternative transaction channels, including digital financial assets and cryptocurrencies.

Russia’s central bank governor, Elvira Nabiullina, warned the Duma on Wednesday that “tectonic shifts” in global trade, spurred by U.S. tariffs and sanctions, are a major new risk.

During her annual report, she told lawmakers the changes are unfolding fast, making their impact on the global economy—and Russia—hard to predict. “This is a new significant risk that we must take into account,” Nabiullina said, acknowledging the uncertainty ahead.

Despite Western sanctions over Ukraine, she minimized their effect, noting they’ve mostly complicated cross-border payments but haven’t derailed Russian exports or imports. Russia, she added, is adapting by developing alternative transaction channels, including digital financial assets and cryptocurrencies.

“Businesses are testing the use of digital financial assets, showing interest in cryptocurrency transactions within an experimental legal framework,” she explained, signaling a move toward innovative finance to counter isolation.

Separately, Dmitry Aristov, head of the Federal Bailiff Service (FSSP), revealed plans to monetize seized bitcoins. Speaking to the Federation Council, he said the agency is working with partners to convert confiscated digital currencies into state revenue.

Aristov brought up a case where over 1,000 bitcoins were seized in a bribery probe—part of Russia’s broader push to turn confiscated digital assets into cash under growing economic strain.

All of this points to Russia trying to find its footing in a shaky global trade environment. With U.S. tariffs and sanctions piling up, the country’s turning to crypto and seized assets to stay in the game.

No one’s sure if it’ll actually work, but it shows how far Russia’s willing to go to adapt. In a world full of uncertainty, leaning on new tools and diversifying income might just be its way of hanging on.
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