Bitcoin's market capitalization surpassing Google marks a significant milestone, elevating its status as a major global asset. This achievement underscores the increasing adoption and acceptance of Bitcoin by institutional and retail investors alike. It suggests a growing recognition of Bitcoin as a store of value and a potential hedge against traditional market uncertainties.
This development could pave the way for further integration of Bitcoin into mainstream finance, potentially leading to increased liquidity and reduced volatility over time. It may also encourage more traditional financial institutions to offer Bitcoin-related products and services, further legitimizing its role in the global financial landscape. However, regulatory scrutiny and inherent market volatility remain key factors that will shape Bitcoin's future trajectory.
Bitcoin enters world's top 5 largest assets, surpassing Google, Silver, Amazon
BTC price is up 15% in April, breaking from the tech-heavy Nasdaq 100, which has dropped 4.5%; Bitcoin moves into the top five largest assets.
Bitcoin BTC $92,746 has overtaken Alphabet (Google) to become the world’s fifth most valuable asset by market capitalization.
As of April 23, Bitcoin’s market cap surged to $1.87 trillion, edging past Alphabet’s $1.859 trillion valuation, according to asset ranking data. BTC is now behind only gold, Apple, Microsoft and Nvidia.
Top assets by market cap. Source: CompaniesMarketCap.com
Bitcoin beats Nasdaq 100 returns in April
Bitcoin’s edge over Alphabet coincides with its ongoing “decoupling” from its long-standing correlation with US tech stocks, especially in April, when BTC’s price rallied 15% despite the Nasdaq 100’s returns of 4.50% in the same period.
BTC/USD and Nasdaq 100 price comparison chart. Source: TradingView
This decoupling followed months of disappointment for crypto bulls, who expected a stronger post-election rally.
Even with April’s gains, BTC’s price remains 16% below its $109,000 all-time high set in January, when Trump was re-inaugurated as the US president.