Bitcoin has overtaken Alphabet to become the fifth largest asset by market cap at $1.87 trillion, trailing only gold, Apple, Microsoft, and Nvidia. In April, BTC rallied 15%, markedly distinguishing itself from the Nasdaq 100. The surge follows a decoupling trend from tech stocks and is bolstered by renewed investor interest following Trump’s critical stance on the Fed. Meanwhile, Alphabet faces regulatory challenges and competitive pressures.
Bitcoin (BTC) has surpassed Alphabet (Google) to claim the position of the fifth most valuable asset globally, with a market capitalisation of $1.87 trillion as of April 23. Consequently, Bitcoin is now ranked just behind gold, Apple, Microsoft, and Nvidia based on market value data. This represents a significant milestone in Bitcoin’s trajectory as a leading asset.
In April, Bitcoin exhibited impressive performance, rallying by 15%, while the Nasdaq 100 only achieved a return of 4.50%. This increase is part of a broader “decoupling” trend from its previous correlation with US technology stocks, reflecting a potential shift in investor sentiment towards cryptocurrency. Despite these gains, Bitcoin is still approximately 16% below its all-time high of $109,000, recorded in January.
Investor interest in Bitcoin has been further fueled by recent criticisms of the Federal Reserve’s policies and the upcoming review of a Strategic Bitcoin Reserve, proposed by former President Trump. According to K33’s head of research, Vetle Lunde, this scrutiny on the Fed is having a positive impact on Bitcoin’s market performance. Additionally, macro analyst Fejau indicated that outflows from US assets could benefit Bitcoin since it is less susceptible to tariffs.
While Bitcoin’s valuation has risen impressively, Alphabet faces challenges stemming from regulatory issues, antitrust scrutiny, and diminished growth in digital advertising. The emergence of AI competitors has also cast doubt on Google’s long-term viability. With a current worth exceeding that of two Teslas, Bitcoin continues to demonstrate substantial market resilience, having gained over 180% since Tesla’s initial investment in Bitcoin at a price of $33,500 in early 2021.
