Bitcoin has reached a new record high of $122,600, surpassing Amazon in market capitalization and solidifying its place as the fifth-largest asset.
Bitcoin's New All-Time High
Bitcoin reached a new all-time high of $122,600 on Monday, pushing its market capitalization above $2.4 trillion. The cryptocurrency now ranks as the world's fifth-largest asset by market cap, surpassing companies like Silver and Alphabet. This milestone comes amid increased institutional interest.
ETF Inflows Drive Institutional Investment
Bitcoin-based exchange-traded funds (ETFs) have emerged as the primary driver of institutional demand. BlackRock's iShares Bitcoin Trust reached a record $83 billion in assets under management, tripling in value within 200 trading days. Over 265 companies now hold Bitcoin on their balance sheets, more than doubling from 124 just weeks ago. The ETFs recorded seven consecutive days of positive inflows, adding over $1 billion on Friday.
Broader Market Impact and Competition
Bitcoin's ascent to fifth place among global assets represents a fundamental shift in how digital currencies compete with traditional financial instruments. The cryptocurrency now trades alongside major tech companies, creating pressure on other asset classes. Analysts note that Bitcoin's fixed supply cap generates unique economic conditions, distinguishing it from publicly traded companies.
Bitcoin's record achievement reflects not only its growing popularity but also changes in approaches to institutional investment, potentially reshaping the market in the future.
