SOURCE : NEW18 NEWS
Last Updated:April 24, 2025, 16:01 IST
Bitcoin’s total market value on April 23 stood at $1.86 trillion, briefly edging past silver and Google’s parent company Alphabet before slipping to the 8th position on Thursday.
In the past four days, Bitcoin has jumped over 10 per cent.
Bitcoin briefly overtook tech heavyweights like Google, Amazon, and Meta to become the world’s fifth-largest asset by market capitalisation, according to CompaniesMarketCap. The world’s largest cryptocurrency Bitcoin’s total market value on Wednesday (April 23) stood at $1.86 trillion (about Rs 1.59 lakh crore), briefly edging past silver and Google’s parent company Alphabet before slipping to the 8th position on Thursday.
The top four spots remain with gold, Apple, Microsoft, and Nvidia, but Bitcoin’s climb reflects a growing acceptance of digital assets in mainstream finance. On Wednesday (April 23), Alphabet’s market cap was $1.859 trillion, just behind Bitcoin, while Amazon was valued at $1.837 trillion. Silver followed closely at $1.855 trillion.
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After becoming 5th biggest asset, Bitcoin on April 24 fell to the 8th spot with a market capitalisation (m-cap) of $1.83 trillion. Amazon, Alphabet and silver have inched up to $1.91 trillion, $1.90 trillion, and $1.87 trillion, respectively, and reclaimed 5th, 6th and 7th spots. Meta, however, remained at the 10th spot with $1.31 trillion m-cap.
The ongoing surge in Bitcoin follows a volatile period for the cryptocurrency. Bitcoin had dropped to around $76,000 (Rs 65.3 lakh) amid global uncertainties, but has since rebounded, crossing $93,000 (Rs 79.8 lakh) mid-week. Its record high stands at over $108,000 (Rs 92 lakh), reached in December 2024.
Why Is Bitcoin Rising?
Bitcoin, the world’s largest cryptocurrency, has been witnessing an upsurge in the past few days. In the past four days, Bitcoin has jumped over 10 per cent. It is currently trading around $93,230 after briefly crossing the $94,000 mark..
According to CoinSwitch Markets Desk, the price surge aligned with geopolitical developments, particularly US President Donald Trump’s announcement of a partial easing in the US-China trade standoff. Adding to the bullish sentiment, Cantor Fitzgerald’s new chairman, Brandon Lutnick, announced the formation of ‘Cantor Equity Partners’ in collaboration with SoftBank, Tether, and Bitfinex. The group aims to launch 21 Capital with an initial $3 billion investment in Bitcoin, signalling deepening institutional confidence, it added.
