Investors eye potential rally toward Apple’s $3.4 trillion valuation
Bitcoin reached a record high above $124,000 on Thursday, briefly surpassing Google parent Alphabet’s $2.45 trillion market capitalization to become the fifth-largest asset in the world. The milestone fueled bullish sentiment that the world’s largest cryptocurrency could be on track to challenge Apple’s $3.4 trillion market value in the coming weeks.
Bitcoin’s surge saw it peak at $124,457 before easing to around $121,742, according to CoinGecko data. At its peak, the asset leapfrogged Google in global rankings, sparking a flood of optimistic commentary from industry figures.
“Bitcoin all-time high and it’s only Wednesday,” said Gemini co-founder Tyler Winklevoss in an X post, with investor Kyle Chassé calling it “the best week for Bitcoin.”
Next Target: Apple’s Market Cap
Crypto analysts estimate Bitcoin would need to reach $175,000 to match Apple’s valuation. Udi Wertheimer, a Taproot developer, suggested that could happen before the end of August if current momentum holds.
Some forecasts are even more aggressive. Arthur Hayes, co-founder of BitMEX, projects Bitcoin could hit $250,000 in 2025 if the U.S. Federal Reserve shifts toward quantitative easing, adding liquidity amid inflation concerns.
Institutional Capital Fuels Rally
Bitcoin’s rise also pushed the total cryptocurrency market capitalization above $4.1 trillion for the first time in history. Market watchers point to institutional inflows, clearer regulatory frameworks, and structural investment changes—such as 401(k) crypto allocations—as key drivers.
“This is not just speculative enthusiasm; it’s the groundwork for crypto’s integration into mainstream portfolios,” said Vugar Usi Zade, COO of Bitget exchange.
“Whether this is the start of a multi-quarter bull run or a peak before consolidation depends on how the market absorbs its own momentum,” Zade added.
Industry sentiment remains overwhelmingly positive. Jeff Park, CIO at ProCap BTC, described the setup as “the easiest BTC bull run ever.”
With Bitcoin now rubbing shoulders with the world’s largest companies by market cap, the next few weeks could decide whether it cements its place among the top five assets—or takes aim at the number one spot.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.