Bitcoin flips Amazon’s $2.3T market cap to become 5th global asset

Key Points

1. Bitcoin's price rose to a new all-time high of $122,600, with a market capitalization exceeding $2.4 trillion.

2. Bitcoin surpassed Amazon’s $2.3 trillion, Silver’s $2.2 trillion, and Alphabet’s $2.19 trillion market caps.

3. US spot Bitcoin ETFs contributed significantly to Bitcoin's price momentum, with a seven-day buying streak adding liquidity.

4. Over 265 companies now hold Bitcoin on their balance sheets, totaling 3.5 million BTC in company treasuries.

5. Spot Bitcoin ETFs accounted for 75% of new Bitcoin investments over a two-week period in February 2024, helping push BTC price above $50,000.