Bitcoin continues to show significant growth, now boasting a market cap of over $2.4 trillion, placing it fifth among global assets.
Record Bitcoin Surge
Bitcoin's price surged to a new record of $122,600 on Monday, gaining nearly 13% over the past week. This led to Bitcoin's market capitalization reaching $2.4 trillion, surpassing Amazon's $2.3 trillion.
Increase in Institutional Investments
The growing institutional adoption of Bitcoin has seen the number of companies holding Bitcoin double since June 5. Currently, over 265 companies hold Bitcoin on their balance sheets, with a total of 3.5 million Bitcoin held in corporate treasuries.
Impact of Crypto Legislation
Bitcoin's price may also be benefiting from heightened interest due to an event dubbed 'Crypto Week' in the US, where lawmakers are seeking to pass three key bills aimed at strengthening the national crypto industry.
Bitcoin demonstrates consistent growth and importance in the global economic landscape, reflecting increased interest from institutional investors and potential legislative changes.
