Bitcoin Market Cap Tops $2.42T, Exceeds Amazon’s Valuation

Following the bullish moves, Bitcoin is now trading at $121,666 and has a market capitalization of $2.42 trillion, making it much bigger than Amazon in terms of market cap

According to the Companiesmarketcap, Amazon has a market capitalization of $2.388 trillion, yet the market cap of the company grew 1.24% in the past 24 hours and 16.76% in the past 52 weeks.

Source: Companiesmarketcap

The list of top assets by market cap is ruled by Gold with a market capitalization of $22.723 trillion; however, silver has a cap of $2.224 trillion.

According to data from TradingView, the market capitalization of BTC grew more than 11% in the past seven days, a surge of 14.88% and is up by 31%.

What is pushing Bitcoin to a higher level?

Over the past few quarters, Bitcoin has gained significant dominance and has become one of the most opted investment products globally, and has also mirrored a massive embrace from institutions and companies.

A few primary factors behind Bitcoin’s surge are its growing popularity among finance enthusiasts and its clarity for trading. There are even some nations boosting their crypto investment, especially Bitcoin.

According to the data from BitcoinTreasuriesNet, there are 148 publicly listed companies globally holding BTC, around 12 nations have been embracing crypto, 46 private companies are holdings Bitcoins, 44 ETFs and other funds hold BTC, and the number of exchanges/custodians and DeFi Smart Contracts are 15 that hold Bitcoin.

Strategy (earlier MicroStrategy) has 597,325 Bitcoins, making it the top among publicly listed companies holding BTC. Mara Holdings Inc. has 50,000 Bitcoins, and XXI has 37,230 BTC

With these developments, Bitcoin’s market dominance has also grown, and as of writing, it has control over 64.55% market. In the past 52 the dominance has grown by 18.14% and in YTD it is up by 11.11%.

Is Bitcoin eyeing a new ATH above $125,000?

Since the last few weeks, a major bullish momentum in Bitcoin prices has been recorded, and has succeeded in breaking the previously established all-time high, and now its ATH is $123,091.

Source: TradingView

In the past 24 hours, Bitcoin has tumbled in the range $117,771- $123,091, and the bulls still seem to be changing, raising arguments over Bitcoin soon establishing a new milestone at $125,000

Few recently published estimates say that Bitcoin is still eyeing the $125k mark, and there are higher chances of continued bullishness as other sub-categories of BTC are gaining massive traction.