Bitcoin Surpasses Google in Market Value, Becomes World’s Fifth-Largest Asset

Bitcoin has overtaken Google in market capitalisation, reaching $1.86 trillion, as a mix of macroeconomic tailwinds, renewed investor confidence, and regulatory developments signal a turning point in the digital asset’s standing.

Bitcoin (BTC) surged past $94,000 on Tuesday, making it the fifth-largest asset globally by market cap—surpassing Google parent company Alphabet in the process. The milestone comes amid broader optimism in risk assets, with easing U.S.–China trade tensions and a softer U.S. dollar helping to fuel the rally.

According to data from CompaniesMarketCap, Bitcoin now sits just behind tech giants like Apple, Microsoft, Saudi Aramco, and Amazon. It’s a symbolic moment for a digital asset once seen as fringe—and a sign that market participants increasingly view Bitcoin as more than a speculative tool.

A Return to Strength Following a Sharp Pullback

This latest rally marks a significant recovery for Bitcoin, which had fallen from its all-time high of $109,114 recorded on January 20, 2025—the day President Trump was inaugurated. While that peak put Bitcoin’s market cap above $2 trillion, the broader equities market was also riding high at the time.

Since then, macro conditions have shifted, particularly in the currency markets. The U.S. dollar index (DXY) dropped to 98.29 on Monday, its lowest level in three years. Analysts attribute this weakness largely to ongoing tensions between President Trump and Federal Reserve Chair Jerome Powell. Trump has openly criticized Powell’s leadership, calling the Fed chair “too late and wrong” on rate decisions and suggesting his removal is overdue. Powell, for his part, has defended the Fed’s independence, pointing to data-driven policy decisions.

Against this backdrop, Bitcoin’s breakout appears increasingly uncorrelated with traditional benchmarks. While major indices like the S&P 500 have seen uneven performance, Bitcoin has pushed higher—outperforming the Nasdaq and setting new resistance-breaking levels on technical charts.

Regulatory Winds Shift as SEC Changes Leadership

Another contributing factor to Bitcoin’s renewed momentum is the confirmation of Paul Atkins as the new Chair of the U.S. Securities and Exchange Commission (SEC). Sworn in earlier this week, Atkins is widely seen as a pro-crypto figure. He previously served as an SEC commissioner from 2002 to 2008 and has expressed support for regulatory clarity rather than aggressive enforcement.

Atkins replaces a leadership team that had taken a hardline approach to digital assets, with dozens of enforcement actions launched in the past two years. Several of those cases are now being reviewed or dismissed, a move that many in the industry see as long overdue.

“I am honored by the trust and confidence President Trump and the Senate have placed in me,” Atkins said in a statement. “My focus will be on fair markets, responsible innovation, and clear guidelines.”

The SEC under Atkins will face immediate decisions on more than 70 cryptocurrency-related exchange-traded fund (ETF) applications, according to Bloomberg. These include proposals tied to Bitcoin, Ethereum, XRP, and even newer digital assets. If approved, these ETFs could unlock significant capital from institutional and retail investors alike.

A Decoupling in Progress?

Market analysts are increasingly noting a decoupling between Bitcoin and major tech indices. On Tuesday, as Nasdaq futures rose just over 2%, Bitcoin outpaced the move with a breakout above its 2025 resistance level. For some, this suggests a shifting narrative—from Bitcoin as a tech-adjacent asset to Bitcoin as a standalone macro asset.

“This isn’t just a risk rally,” said Andrea Rizzo, a macro strategist at Invia Research. “We’re seeing Bitcoin perform in line with inflation hedges and outperforming other high-growth tech plays. That’s not something we’ve seen consistently in previous cycles.”

Others note that Bitcoin’s resilience could reflect growing investor appetite for assets that operate outside traditional monetary systems, particularly as political tensions rise between the White House and the Fed.

Despite the optimistic signals, experts warn that Bitcoin remains a volatile asset and subject to sudden shifts in sentiment. The digital asset space is still in the process of rebuilding trust after a turbulent 2022–2023 period marked by high-profile collapses and regulatory uncertainty.

Still, today’s price action offers a glimpse of what Bitcoin’s future might look like if institutional confidence continues to build and retail adoption holds steady. With the asset now outperforming most of the tech sector and reclaiming a position among the world’s most valuable entities, the perception of Bitcoin is evolving—from speculative to strategic.

And while Bitcoin’s market cap may have exceeded $2 trillion in the past, the fact that it now holds a top-five spot in a more measured, less euphoric market could prove even more significant in the long term.

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