Bitcoin Reaches ATH, Becomes 5th Largest Asset in the World

Bitcoin (BTC) has reached a new milestone. For the second time this year, the world-leading cryptocurrency has hit an all-time high (ATH) of $109,487. This price jump has also helped Bitcoin overtake Amazon in value, making it the fifth most valuable asset in the world. Bitcoin Now More Valuable Than Amazon With its latest price jump, Bitcoin’s total market value has climbed to over $2.13 trillion, putting it just behind gold, Microsoft, Nvidia, and Apple. This achievement shows how much Bitcoin has grown over the years, from being seen as a risky bet to becoming one of the top financial assets in the world. According to CoinMarketCap , Bitcoin rose from a daily low of about $105,135 before hitting its new high. The steady price rise suggests that the flagship cryptocurrency may continue to grow. Experts Say Bitcoin Could Climb Higher Well-known trader Peter Brandt, who has followed Bitcoin for a long time, says the digital asset could rise even further. In a recent X post, he reiterated that this bull run is far from over. He even predicts that the digital asset might reach between $125,000 and $150,000 by the end of August. Another analyst, known as the Titan of Crypto, is also confident. He said the target of 135,000 in 2025 is still on track and unfolding just as expected. Meanwhile, other industry leaders have shared a bullish long-term goal regarding Bitcoin’s future. In March, Cathie Wood, CEO of ARK Invest, shared her bullish outlook for BTC. She said the digital coin could hit $1 million before 2030, as projected. Institutional Investors Are Driving the BTC Rally Bitcoin’s rise is not just coming from retail investors. Big companies and investment firms are also adding to the growth. BlackRock, one of the world’s largest investment firms, has a Bitcoin fund called IBIT. This fund now owns over 636,000 Bitcoins, showing that large investors are interested in the flagship crypto. Not only that, but public companies are also buying a lot of Bitcoin. Nasdaq-listed firm Strategy, led by Michael Saylor, now holds the biggest Bitcoin stash of any other public company. This shows that more businesses are starting to believe in Bitcoin’s future. The company’s unrealized profit is $22.7 billion. Other firms, such as Japan’s Metaplanet and Basel Medical Group, are also adding Bitcoin to their reserves. Following Bitcoin’s recent all-time high, Saylor said on social media that Bitcoin is still the best thing to buy, especially since cash and property come with more risks now. This comes at a tough time for Strategy. The Bitcoin-focused firm is facing a class action lawsuit from investors. The plaintiffs recently accused the firm of making false and misleading statements about its profits and the risks associated with its BTC strategy. The post Bitcoin Reaches ATH, Becomes 5th Largest Asset in the World appeared first on TheCoinrise.com .

Source: The Coin Rise