In a significant development, Bitcoin (BTC) has secured its position as the world’s fifth most valuable asset by market capitalization, surpassing tech behemoth Alphabet, which is the parent company of Google.
As of April 23, Bitcoin’s market capitalization reached $1.87 trillion, edging past Alphabet’s value of $1.859 trillion, according to the latest asset rankings.
The cryptocurrency now ranks behind only gold, Apple, Microsoft, and Nvidia in terms of global asset value.
Bitcoin Achieves New Milestone Amid Decoupling from U.S. Tech Stocks
This achievement coincides with Bitcoin’s increasing detachment from U.S. tech stocks.
In April alone, BTC surged by 15%, significantly outpacing the Nasdaq 100, which managed a 4.5% return during the same period.
– Tech futures down
– Dollar down
– Gold new ATH
– Bitcoin breaking out/decoupling
Realize where we are. pic.twitter.com/XqZRlEHj39
— Geiger Capital (@Geiger_Capital) April 21, 2025
This clear divergence marks a notable change from Bitcoin’s previous correlation with technology equities, generating renewed optimism among cryptocurrency investors following a streak of underwhelming performance.
Despite this upward trend, Bitcoin is still trading 16% below its all-time high of $109,000, reached in January after Donald Trump’s re-election.
Trump’s recent actions—including his criticism of Federal Reserve Chair Jerome Powell and an executive order to establish a Strategic Bitcoin Reserve (SBR)—have reinvigorated investor confidence as the SBR enters its 60-day review period.
“Concerns regarding Fed independence are creating positive momentum for Bitcoin,” remarked Vetle Lunde, head of research at K33.
Macro analyst Fejau shared similar views, suggesting that outflows from traditional U.S. assets could elevate BTC further. He emphasized Bitcoin’s stability against tariffs and its function as a high-beta asset devoid of the inherent risks associated with tech stocks.
“This environment is precisely what Bitcoin was designed for,” Fejau asserted, forecasting that once market volatility eases, Bitcoin will spearhead the next growth wave.
https://t.co/uTMiS5CJND
— fejau (@fejau_inc) April 16, 2025
On the other hand, Alphabet is grappling with various challenges, including regulatory scrutiny, antitrust pressures, and declining digital advertising revenues.
The rise of AI-focused competitors and tempered growth expectations have also dampened investor enthusiasm for the tech giant.
To put this into context, Bitcoin’s market valuation of $1.87 trillion now surpasses the combined value of two Tesla companies.
Tesla, which incorporated Bitcoin into its balance sheet in early 2021 at approximately $33,500 per coin, has seen gains of nearly 180%, equating to over $1 billion in value.
Bitcoin Soars Past $93,000 Following Trump’s Easing of Fed and Tariff Concerns
Bitcoin surged above $94,000 on Tuesday after President Trump clarified his intentions not to remove Federal Reserve Chair Jerome Powell, alleviating investor anxieties regarding Fed independence.
Additionally, Trump’s less aggressive stance on China tariffs further bolstered market confidence, extending Bitcoin’s rally that had started early in the day.
At the time of reporting, Bitcoin traded at $93,750, reflecting a more than 4% increase in a 24-hour span, according to data from CoinMarketCap.
Meanwhile, institutional interest in Bitcoin appears to be regaining momentum, with U.S. spot Bitcoin ETFs registering $719 million in net inflows over just two days, indicating a revival of confidence in the cryptocurrency market.
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