Bitcoin has become the fifth largest property in the world, which has reached Amazon through market capitalization.
Bitcoin (Btc) The price is up to a New all-time high of $ 122,600 on Monday and climbed nearly 13% last week, as Cointelegraph reported.
These gains allow Bitcoin to exceed a $ 2.4 trillion market capitalization of the Amazon’s $ 2.3 trillion, $ 2.2 trillion of silver and alphabet (Google) $ 2.19 trillion, CompanymarketCap Data displays.
This means that Bitcoin’s market cap is just $ 730 million shy of tech apple giant, at the time of writing.
Bitcoin’s new record high has come in the middle of a period of growing institutional adoption, seeing companies holding Bitcoin doubled since June 5. More than 265 companies have been holding Bitcoin in their balance sheets, from 124 just a few weeks past.
A total of 3.5 million Bitcoin is held in the company’s wealth, with 853,000 BTC, or 4% of the total supply, in public wealth companies, and more than 1.4 million BTC, or 6.6% of the supply, by spot bitcoin exchange-traded funds (ETFs).
Related: Trump Administration Mulls ‘Debanking’ Executive Order: WSJ
Bitcoin etf buying spree bolsters btc momentum
The US spot Bitcoin ETFS completed the trading session last week with a seven -day stripe purchase, increasing significant liquidity for Bitcoin price momentum.
Bitcoin ETF spots gained more than $ 1 billion worth of net positive flow on Friday, marked a seventh consecutive investment day, faride investors Data Shut up.
Founding from the Bitcoin ETF area has become a significant catalyst for increasing bitcoin in new highs.
In February 2024 the ETFs were supposed to be 75% of new investments In Bitcoin for two weeks. This activity has helped push BTC prices of over $ 50,000.
Related: Multibillion-dollar Hodl: Bitcoin whales woke up after 14 years
The price of Bitcoin can also benefit from higher interest due to an event called by the US government as “crypto week.” Lawmakers seek to pass three major cryptocurrency bills that are expected to strengthen the national crypto industry: the guide and establishment of national change for US stablecoins, or Genius ActThe Digital Asset Market Clarity Act (Clarity Act) and the Anti-CBDC Surveillance State Act, which aims to avoid the creation of A Central Bank Digital Currency (CBDC).
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