Bitcoin now fifth biggest asset, beats Google with $2.46T m-cap
What's the story
Bitcoin has surpassed Google's parent company Alphabet in market capitalization, according to data from coinmarketcap and companiesmarket cap. The cryptocurrency's market cap hit $2.46 trillion on August 14, making it the fifth largest global asset. This milestone highlights Bitcoin's growing influence in mainstream finance and could attract institutional interest and capital inflows in the future. At the time of writing, Alphabet's m-cap stood at $2.448 trillion.
Record high
Bitcoin hits new record high price
Bitcoin has achieved a new milestone, reaching an all-time high of $124,002.49 during early trading hours on Thursday. The world's largest cryptocurrency, by market capitalization, surpassed its previous peak set in July, solidifying its position as a major financial asset. This record-breaking rally is a clear signal of the market's robust momentum and growing institutional confidence in digital currencies. Ethereum, the second-largest crypto token, also saw a jump to $4,780.04—the highest since late 2021.
Outlook
Bitcoin may hit $150,000
The recent surge in Bitcoin's value can be attributed to a combination of factors. These include the growing certainty of Federal Reserve rate cuts, continued institutional buying, and the Trump administration's efforts to ease investment in crypto assets. IG market analyst Tony Sycamore noted that "technically, a sustained break above $125k could propel BTC to $150,000."