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Bitcoin has surpassed Amazon's market value, reaching a significant milestone. The cryptocurrency peaked at $122,600 on August 6, boosting its market cap to approximately $2.4 trillion, overtaking Amazon, which has a valuation of $2.3 trillion.
The milestone makes Bitcoin one of the five most valuable assets in the world after giants such as Apple and Microsoft.
A set of key factors has driven the emergence of Bitcoin and its rapid rise in popularity. The increased institutional demand, particularly via the emergence of spot Bitcoin exchange-traded funds (ETFs), has also been an essential factor in the massive upswing. These ETFs experienced consecutive days of over $1 billion inflows on July 10 and July 11, 2025, with the inflows representing the highest levels of demand ever. The IBIT ETF in BlackRock, in particular, has surpassed $80 billion in assets under management, highlighting the role that institutional investment plays in pushing forward the price of Bitcoin.
A macroeconomic context also underlies the spike in Bitcoin price. Crypto-friendly policies by a new administration led by Trump and a declining dollar have boosted interest in Bitcoin as a store of value.
Bitcoin and traditional risk assets such as equities have been showing higher correlations, further solidifying the status of the crypto asset as a component of the broader financial ecosystem. A survey done in early 2025 showed that Bitcoin now had a high correlation with leading indices like Nasdaq and the S&P 500, an indication that investors' approach had changed.
Institutional Bitcoin holdings have been increasing exponentially over the past years, with a total of 265 public and private companies currently holding a total of 853,000 BTC. These include well-known corporations like Tesla, Square, and Strategy. Moreover, the amount of Bitcoin presently influencing the market through spot ETFs has reached close to 1.4 million BTC, summing up to roughly 6.6% of the available supply. With this, these ETFs are turning into one of the biggest custodians of Bitcoin in the world, proving that the cryptocurrency can be part of institutional portfolios.
The use of bitcoin as a reserve asset in the strategies of corporations such as Semler Scientific, which holds approximately 4,450 BTC worth nearly $472 million, demonstrates how businesses are introducing digital assets into their balance sheets. This institutional presence is not only holding up Bitcoin's market cap but also establishing a foundation for further development.
After Bitcoin topped Amazon and silver, investors are setting their eyes on the two following big targets, Apple and Microsoft. The current market cap of Bitcoin places it within reach of Apple's $3.1 trillion valuation.
Analysis suggests that, if the macroeconomic environment sustains its current level and institutional demand continues to grow steadily, Bitcoin is soon likely to match the market capitalization of Apple, necessitating its unlocking at a higher price of over $142 thousand.
Going further, Microsoft’s $3.6 trillion valuation is also within Bitcoin’s sights. At that point, the cryptocurrency would need to reach approximately $167,000.
Major financial institutions like Standard Chartered back Bitcoin's bullish projections, forecasting a price of $135,000 by Q3 2025 and the potential to breach $200,000 by year-end.
This growth is expected to continue due to the continued demand for ETFs, the high levels of accumulation on the part of institutions, and the continuing global trend towards more regulated crypto-markets. The growth may prove even larger as Bitcoin continues to gain prominence in mainstream financial infrastructure.
Also Read: Bitcoin Price Analysis: Bitcoin Holds at $114,000 as Market Awaits Breakout
Furthermore, Bitcoin’s surpassing of Amazon marks a critical turning point in its journey. Once regarded as a fringe asset, Bitcoin is now firmly entrenched as a mainstream financial instrument.
With a rising clarity in regulation, a strong pace of institutional adoption, and a supportive macroeconomic landscape, Bitcoin's market cap may keep rising, challenging even the most established corporations of the world. The other milestones- Apple and Microsoft can now be achieved, and the future of Bitcoin appears to adjust the global financial system further.
