Bitcoin has briefly surpassed Google in market capitalisation, reaching $1.86 trillion and ranking as the fifth most valuable asset. Its rise reflects a shift towards cryptocurrencies as hedges against traditional finance risks. Standard Chartered’s Geoff Kendrick predicts a new all-time high, anticipating Bitcoin could reach $200,000 by 2025 and $500,000 by 2028. Institutional interest is growing, with substantial inflows into Bitcoin ETFs and major investments being formed.
In the latest US Morning Crypto News Briefing, Bitcoin (BTC) has made headlines by briefly surpassing Google in market capitalisation, now ranking among the top five most valuable assets. Currently valued at $1.86 trillion, Bitcoin stands behind only Gold, Apple, Microsoft, and Nvidia, indicating its growing role as a hedge against traditional financial risks. This bullish trend illustrates a significant shift in investor sentiment towards risky assets like Bitcoin over gold, which has seen a decline of 6%.
Bitcoin’s recent price surge to $93,500 has been attributed to renewed interest in the cryptocurrency amid changing market dynamics. Analysts at QCP Capital noted that this growth comes after Bitcoin cleared the significant $88,800 technical ceiling, reflecting a broader capital rotation as investors seek exposure to digital assets. This move has led some institutions to increase their investment in cryptocurrencies, with Standard Chartered’s Geoff Kendrick predicting a new all-time high (ATH) for Bitcoin.
Geoff Kendrick highlights the correlation between Bitcoin prices and rising US Treasury term premiums. As these premiums reach a 12-year high, it is expected that Bitcoin prices will follow suit, especially amid ongoing Federal Reserve policy discussions. Kendrick maintains an optimistic forecast for Bitcoin, predicting a price of $200,000 by the end of 2025 and $500,000 by the end of 2028. This sentiment underlines the belief that Bitcoin is a dynamic hedge that may attract institutional investors substantially.
In parallel with Bitcoin’s rise, other significant developments in the market include a strong inflow of nearly $936 million into Bitcoin ETFs, indicating robust institutional interest. Additionally, notable firms such as Cantor Fitzgerald and Tether are collaborating to establish a Bitcoin investment firm with a capital commitment of $3 billion. Meanwhile, Tesla maintains a substantial holding of Bitcoin worth over $1 billion despite broader stock market pressures. This shows that long-term holders are beginning to accumulate again, suggesting the potential start of a new re-accumulation phase for Bitcoin.
