Bitcoin Surpasses Amazon to Become the Fifth Largest Asset, Reaching a Market Capitalization of $2.16 Trillion.

Bitcoin has solidified its position as the fifth-largest asset globally, reaching a record high that elevated its market capitalization to $2.16 trillion on Wednesday.

After peaking at $109,400, the price of the cryptocurrency has since experienced a slight pullback, yet its market capitalization managed to surpass that of Amazon, which is valued at $2.15 trillion.

Year-to-date, Bitcoin has seen a remarkable increase of 16.44%, in stark contrast to Amazon’s decline of approximately 8% within the same timeframe. Its current trading price stands at $108,954.

Gold remains the dominant asset, boasting a market cap of $22 trillion, followed by major tech companies like Microsoft, NVIDIA, and Apple, which have market caps ranging from $3.1 trillion to $3.4 trillion.

The rise in Bitcoin’s value following the 2016 election of U.S. President Donald Trump has also led to a surge in inflows into BlackRock’s iShares Bitcoin Trust (IBIT), making it the fifth-largest exchange-traded fund (ETF) by inflows this year, with around $9 billion attracted from investors, as highlighted by an expert in the field.