Bitcoin Overtakes Amazon as the Fifth Largest Asset, Hitting $2.16T Market Cap

Bitcoin rose to a new high of $109,400 on Wednesday before consolidating marginally lower.

What to know:

• Bitcoin (BTC) surged to a new record high of $109,400 on Wednesday.
• It becomes the fifth largest asset in the world with a $2.16 trillion market cap, overtaking Amazon (AMZN) which is at $2.15 trillion.
• Bitcoin consolidated after hitting a new record high and currently trades at $108,954.

Bitcoin  became the world’s fifth-largest asset after hitting a new all-time high on Wednesday, which pushed its market cap to $2.16 trillion.

Though the crypto’s price consolidated lower after hitting a high of $109,400, its market cap passed Amazon (AMZN), which stands at $2.15 trillion.

Bitcoin is up 16.44% year-to-date while shares of the online retailer are down about 8% over the same period. It is currently trading at $108,954.

(CompaniesMarketCap)

Gold is the largest asset, by far, standing at a $22 trillion market cap, followed by Microsoft (MSFT), NVIDIA (NVDA) and Apple (AAPL) which stand at $3.1 trillion to $3.4 trillion respectively.

As a result of the surge in bitcoin’s price since the win of U.S. President Donald Trump, BlackRock’s iShares Bitcoin Trust (IBIT) recently became the fifth-largest exchange-traded fund (ETF) by inflows this year as it took in roughly $9 billion from investors, according to data from Bloomberg senior ETF analyst Eric Balchunas.