Bitcoin climbed to the fifth position in the global asset ranking by market capitalization, surpassing Amazon. This is evidenced by data from the Companies Market Cap platform.
This growth occurred against the backdrop of another update to the historical maximum: the value of the main cryptocurrency exceeded $123,000.
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Bitcoin surpassed Amazon and became the fifth most valuable asset in the world.
As can be seen in the graph above, by capitalization, the first cryptocurrency surpassed companies such as Meta, Google, Saudi Aramco, Tesla, Berkshire Hathaway, and others. Moreover, Bitcoin has once again outpaced silver in capitalization — this situation has occurred before.
The closest "competitor" is Apple, whose capitalization is $3.15 trillion.
According to TradingView, the market capitalization of Bitcoin currently exceeds $2.4 trillion.
Bitcoin surpassed Amazon and became the fifth most valuable asset in the world.
Recall that earlier the CEO of Xapo Bank warned about the duration of the four-year Bitcoin cycle and the potential collapse of the asset.
"We all want to think of Bitcoin as a hedge against inflation, and I believe it will become one. But for now, I don’t see that. For me, it is still a risky asset. At least the correlation between Bitcoin, the S&P, and stocks is still evident," said Rocca.
According to the head of Xapo Bank, a lack of drivers could trigger an 'infection' effect in the market:
"The contagion effect can be as simple as a lack of news, causing the cryptocurrency market to simply burn out," he noted.