Bitcoin Overtakes Amazon as Fifth-Largest Market

Bitcoin (BTC-USD) achieved a new all-time high, reaching $122,600 on Monday and surging nearly 13% week-over-week according to Cointelegraph. This price appreciation pushed the cryptocurrency’s market capitalization past the psychologically significant $2.4 trillion threshold.

Data from Companiesmarketcap indicates Bitcoin surpassed Amazon ($2.3T), silver ($2.2T), and Alphabet (Google) ($2.19T). While still trailing Apple’s market cap of approximately $2.63T, Bitcoin’s valuation narrowed significantly, amounting to an $730 million deficit at the time of reporting.

This remarkable milestone comes amid accelerating institutional adoption. The number of companies holding Bitcoin on their balance sheets has more than doubled since mid-June, growing from 124 to over 265. Collectively, these entities hold 853,000 BTC (representing about 4% of the total supply) in companies’ treasuries, complemented by over 1.4 million BTC ($397B at current prices) through spot Bitcoin ETFs.

Spot ETF Inflows Fuel Momentum

A significant buying streak in US spot Bitcoin ETFs has provided substantial liquidity. Farside Investors’ data shows these funds experienced net positive inflows exceeding $1 billion during the prior trading week, marking a seventh consecutive day of investment.

This sustained inflow has been identified as a key catalyst for the price ascent to new records. Notably, spot ETFs previously commanded 75% of new investment activity over a two-week period last year, which previously drove the price above the crucial $50,000 level.

*Bitcoin ETF Flow (USD, million). Source: Farside Investors*

Legislative Focus on Crypto Week

Heightened market interest may also be influenced by the US government-designated “Crypto Week.” Lawmakers are actively considering three pivotal bills aimed at the cryptocurrency sector. These include the:

GENIUS Act: Aiming to provide guidance for stablecoin innovation.
CLARITY Act: Seeking greater market clarity for digital assets.
Anti-CBDC Surveillance State Act: Opposing mandatory surveillance features in central bank digital currencies (CBDCs).

The House Financial Services Committee highlighted these measures as central to the current legislative focus.