Bitcoin Overtakes Amazon as the Fifth Largest Asset
Bitcoin reached a new record high of $109,400, pushing its market cap to $2.16 trillion, making it the fifth largest asset globally, surpassing Amazon's market cap of $2.15 trillion. After achieving this peak, Bitcoin has slightly consolidated, currently trading at $108,954. This surge comes as Bitcoin has seen a 16.44% increase year-to-date, contrasting with Amazon's decline of about 8%. The top four assets remain gold at $22 trillion, followed by Microsoft, NVIDIA, and Apple, which have market caps ranging from $3.1 trillion to $3.4 trillion. Furthermore, the rise in Bitcoin's price has significantly boosted the inflows into BlackRock's iShares Bitcoin Trust, now the fifth-largest ETF by inflows this year, reaching approximately $9 billion, as reported by Bloomberg's Eric Balchunas.
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