Bitcoin surpassed Amazon in market capitalization, hitting $2.205 trillion and marking a symbolic milestone that experts say could boost mainstream investor confidence.
The market cap of the world’s first cryptocurrency, Bitcoin, surpassed that of retail and tech behemoth Amazon on “Bitcoin Pizza Day.”
Market data shows that Bitcoin BTC $110,947 had a market cap of $2.205 trillion at the time of writing, $70 billion more than the $2.135 trillion Amazon valuation.
“By surpassing Amazon in terms of capitalization, Bitcoin has attracted even more attention from the non-crypto audience,” said Alex Obchakevich, founder of Obchakevich Research.
Obchakevich said the latest rally “will strengthen confidence in Bitcoin and lead to new injections into the crypto market.” The surge came as Bitcoin set a new all-time high and traded above $110,000, which Obchavich said will “attract new investors to large funds.”
