$Bitcoin (BTC.CC)$ overtook several Wall Street behemoths Wednesday to become the fifth-largest asset by market capitalization.
What happened: The leading cryptocurrency broke its all-time high, helped by a growing wave of institutional inflows and improved sentiment around tariffs.
The rally pushed Bitcoin's market capitalization to $2.183 trillion, higher than some of the largest technology companies on the planet.
As seen from the table below, Bitcoin was more valuable than $Amazon (AMZN.US)$, Google's parent company Alphabet $Alphabet-C (GOOG.US)$, Facebook's parent company $Meta Platforms (META.US)$ and the electric vehicle juggernaut $Tesla (TSLA.US)$, all of which are part of the high-performing "Magnificent 7" cohort.
The leading cryptocurrency has also outperformed Saudi Aramco, the world's largest oil producer and most valuable energy company.
Additionally, Bitcoin's valuation was nearly double that of Warren Buffett's multinational holding company Berkshire Hathaway
Asset | Market Capitalization |
$2.183 trillion | |
$2.135 trillion | |
$2.054 trillion | |
Saudi Aramco | $1.683 trillion |
$1.597 trillion | |
$1.093 trillion | |
$1.077 trillion |
Bitcoin was only surpassed by gold, which had a staggering $22.34 trillion capitalization, and the other Mag 7 firms, which included $NVIDIA (NVDA.US)$, $Microsoft (MSFT.US)$ and $Apple (AAPL.US)$ .
Price Action: At the time of writing, BTC was exchanging hands at $110,216.25, up 7.30% in the last 24 hours, according to data from Benzinga Pro. Over the last year, the coin has gained over 57%.
The Roundhill Magnificent Seven ETF (BATS:MAGS), which offers exposure to the Mag 7 stocks, closed 1.10% lower at $51.42 during Wednesday's regular session.
The ETF demonstrated a moderately high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing.
