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Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

Bitcoin Overtakes Amazon’s $2.3 Trillion Market Cap – What’s Propelling Its Massive Run?

Ash Tiwari
by Ash Tiwari
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

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 BTC with a $2.43 trillion market cap at a price of $122,304, compared to Amazon’s $2.38 trillion.

bitcoin
Bitcoin is now trailing Apple in terms of market cap | Source: Crypto Rover on X

The chart also indicates that BTC is inching closer to Apple, which currently holds a market cap of $3.15 trillion. Gold remains the top global asset, commanding a massive $22.64 trillion valuation.

Related Reading: US Bitcoin ETFs Record Consecutive Billion-Dollar Inflow Days As Price Nears $120K

Several factors appear to be driving Bitcoin’s explosive rally. Chief among them is the surge in institutional interest, which is nearing all-time high (ATH) levels.

In a separate post, crypto analyst Mister Crypto noted that crypto investment products saw inflows of $3.7 billion last week – marking the second-largest weekly inflow ever. The analyst described this as an “extremely bullish signal.”

btc
Source: Mister Crypto

Meanwhile, data from SoSoValue reveals that total net assets held in spot Bitcoin exchange-traded funds (ETFs) have reached $150 billion – representing over 6.4% of BTC’s total market capitalization.

Companies Continue To Increase BTC Exposure

As Bitcoin gains traction as a reliable store of value, more corporations are adding BTC to their treasuries. For instance, Michael Saylor’s Strategy remains the largest corporate holder of Bitcoin and continues to expand its position.

Related Reading: Bitcoin Sees Coinbase Premium Recovery, But Strength Still Below June Peak – What It Means For BTC?

The company announced today that it had acquired an additional 4,225 BTC for $472.5 million at an average price of $111,827 per BTC. MicroStrategy now holds 601,550 BTC, valued at $42.87 billion at an average cost of $71,268 per coin.

Similarly, Japanese investment firm Metaplanet – often dubbed “Asia’s Strategy” – revealed it had purchased 800 BTC. The company now holds 16,532 BTC and has set an ambitious target to accumulate 210,000 BTC by the end of 2027.

A recent report from institutional research firm Blockware Intelligence predicts that as many as 36 more companies could add BTC to their balance sheets by the end of 2025. This is likely to further cement BTC as a reliable store of value.

Adding to the bullish outlook, Bitcoin’s available supply on crypto exchanges continues to decline amid growing demand. This supply squeeze could further propel prices higher in the near term. At press time, BTC trades at $121,062, up 2% in the past 24 hours.

bitcoin
Bitcoin trades at $121,062 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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