In a remarkable twist worthy of a Russian novella, Bitcoin has waltzed its way into the spotlight, claiming the esteemed title of the world’s fifth-largest asset. Think Amazon is still on top? Not so fast, dear reader.
With a price jump to a dazzling $122,600 on a fine Monday morning, Bitcoin has surged a staggering 13% in just a week, as CryptoMoonâa name that seems to hint at a cosmic journeyâhastily reported.
Thanks to this fortunate ascent, Bitcoin has now outstripped Amazonâs market capitalization of $2.3 trillion, leaving the tech behemoth floundering in its digital dust along with Silver‘s $2.2 trillion and Google’s $2.19 trillion. Oh, how the mighty have fallen! And all that remains is a mere $730 million gap between Bitcoin and the almighty Apple. đ
Bitcoinâs peak comes amidst what one might dub the institutional adoption frenzyâimagine a line of corporate executives clambering for a slice of the crypto pie. The number of companies sheltering Bitcoin on their balance sheets has surged from a modest 124 to a more robust 265 since the 5th of June, as though families were adopting stray cats in winter.
And it doesnât stop there! Many companies now hold a total of 3.5 million Bitcoin in their treasuries. Picture it: 853,000 BTC nestled safely in public company balances, while more than 1.4 million BTC snoozes comfortably through spot Bitcoin exchange-traded funds (ETFs). Sounds cozy, doesnât it? đ€
Bitcoin ETF Madness: A Dazzling Buying Bonanza!
The US spot Bitcoin ETFs ended last week by throwing a magnificent seven-day buying party, raining liquidity down like confetti, and giving Bitcoin an even grander leverage in its rollercoaster ride.
With over $1 billion in net positive inflows last Friday alone, these funds have become the very catalyst propelling Bitcoin to dizzying new heightsâtalk about a financial extravaganza!
In February 2024, the ETFs accounted for a whopping 75% of new investments into Bitcoin over a two-week period. Such enthusiasm undoubtedly helped catapult BTC above the $50,000 mark, leaving many wondering if they, too, should be joining the frenzy.
Adding fuel to this explosive rocket, the US government has cheekily dubbed a week as âCrypto Week,â while lawmakers eagerly aim to launch three crucial cryptocurrency bills: the GENIUS Act (seriously?), the Digital Asset Market Clarity Act (which ironically seems to lack clarity), and the Anti-CBDC Surveillance State Actâdesigned to block a central bank digital currency (CBDC). Oh, how thrilling this digital age has become! đ
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2025-07-14 12:40