The market value of Bitcoin reached $1.87 trillion, surpassing that of Alphabet's $1.859 trillion by a narrow margin.
The market capitalization of Bitcoin (Bitcoin-BTC) has risen to currently rank fifth globally among assets in terms of market capitalization, surpassing tech giant Alphabet, the parent company of Google; Bitcoin's market value reached $1.87 trillion on April 23, slightly exceeding that of Alphabet's $1.859 trillion according to the latest global asset ranking data. As such, the leader of the crypto sector is now only separated from the top largest assets by market capitalization by gold, Apple (NASDAQ:AAPL), Microsoft, and Nvidia.
Bitcoin reaches a new milestone by decoupling from U.S. tech stocks.
This achievement came amid Bitcoin's increasingly independent performance from U.S. tech stocks; in April alone, Bitcoin's value rose by 15%, significantly exceeding the Nasdaq 100 index's return of 4.5%, marking a clear shift from Bitcoin's historical correlation with tech sector stocks, renewing optimism among crypto investors after months of underperformance.
Despite its recent rise, the price of Bitcoin is still 16% lower than its all-time high of $109,000 recorded last January following Donald Trump's re-election as president; investor confidence has been bolstered by Trump's recent actions, including his criticism of Federal Reserve Chairman Jerome Powell and his signing of an executive order to create a Strategic Bitcoin Reserve (SBR) as the 60-day evaluation period for the proposed reserve approaches its end.
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Vetle Lunde, head of research at K33, previously noted that "questions about the independence of the Federal Reserve are giving Bitcoin positive momentum," which aligns with the views of macroeconomic analyst Fejau that the exit of investments from traditional U.S. assets could contribute to increasing the value of Bitcoin, highlighting the sector's leading strength in the face of tariffs and its role as a new leading asset uncorrelated with the risks of technology sector stocks.
Fejau explained: "These are the economic conditions Bitcoin was designed for," expecting that Bitcoin will lead the next growth phase as the current wave of market volatility subsides, at a time when Alphabet faces increasing challenges including regulatory scrutiny, antitrust pressures, and a slowdown in its digital advertising revenues; meanwhile, the cautious growth outlook and the emergence of competitors in the field of artificial intelligence (AI) have affected investors' overall sentiment toward the company.
To put things in perspective, Bitcoin’s market value—currently $1.87 trillion—exceeds that of Tesla (NASDAQ:TSLA), which added Bitcoin to its treasury assets at the beginning of 2021 at an average price of $33,500, bringing its unrealized gains to nearly 180% with a value exceeding $1 billion. The price of Bitcoin exceeds $93,000, thanks to Trump calming concerns related to the Federal Reserve, tariffs, and the influx of investments into BTC ETFs.
After President Trump denied his intention to dismiss Federal Reserve Chairman Jerome Powell, the price of BTC surpassed the $94,000 mark yesterday, easing investor concerns about the independence of the Federal Reserve. Trump's flexibility regarding tariffs imposed on Chinese imports contributed to increased market optimism and sustained the rise of Bitcoin's price since yesterday. At the time of writing this report, the price of Bitcoin settled with an increase of over 4% compared to yesterday at $93,750 according to CoinMarketCap data. Third-party ads. Not an offer or recommendation from. You can see the disclosure from here or remove the ads. Amid increasing institutional interest, Bitcoin Exchange-Traded Funds (ETFs) recorded net investments of $719 million over two days, indicating renewed confidence.
