Bitcoin Overtakes Amazon’s $2.3 Trillion Market Cap – What’s Propelling Its Massive Run?
Main Idea
Bitcoin has surpassed Amazon's market capitalization, reaching $2.43 trillion, driven by institutional investments and ETF inflows, while its supply on exchanges continues to decline.
Key Points
1. Bitcoin's market cap of $2.43 trillion now exceeds Amazon's $2.38 trillion, trailing only gold, Nvidia, Microsoft, and Apple.
2. Spot Bitcoin ETFs saw $3.7 billion in inflows last week, contributing to the rally, with total net assets reaching $150 billion.
3. MicroStrategy acquired an additional 4,225 BTC, bringing its total holdings to 601,550 BTC, valued at $42.87 billion.
4. Japanese firm Metaplanet purchased 800 BTC, aiming to accumulate 210,000 BTC by the end of 2025.
5. Bitcoin's available supply on exchanges is declining, potentially driving prices higher in the near term.
Description
Bitcoin (BTC) continues its historic price rally, soaring past $120,000 earlier today and surpassing e-commerce giant Amazon’s $2.38 trillion market capitalization. The flagship cryptocurrency now ranks just behind gold, Nvidia, Microsoft, and Apple in terms of market cap. Bitcoin Flips Amazon, What’s Behind The Run? According to a recent X post by crypto analyst Crypto Rover, Bitcoin has officially overtaken Amazon in total market capitalization. The analyst shared the following chart, showing ...
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