Bitcoin Joins Top 5 Global Assets, Outpacing Google’s Market Value.

Bitcoin Overtakes Google to Become Fifth Largest Asset Globally as Crypto Rises Against Tech Stocks

Bitcoin (BTC) has officially surpassed Google (GOOG) in market capitalization, now sitting at $1.86 trillion and positioning itself as the fifth-largest asset globally, with its price surpassing $94,000.

This marks Bitcoin’s highest ranking ever, although it previously exceeded a $2 trillion market cap when its price reached above $109,000, during a time when tech stocks were significantly more inflated compared to current valuations.

Bitcoin has recently surged above $94,000, turning a positive year for the cryptocurrency. The breakout follows easing tensions in the U.S.-China trade war, which has contributed to rising market optimism. Both Bitcoin and tech stocks have benefitted, with Nasdaq futures gaining 2% in early trading.

From a technical perspective, Bitcoin has broken through key resistance levels, setting a new record against the Nasdaq, signaling a strong breakout not only against major tech stocks but also across various important asset classes.