Bitcoin ranked among top 5 largest global assets and overtook Google in market capitalization

Bitcoin has once again rewritten the history of financial markets by becoming the fifth largest global asset. Its market capitalization reached $1.86 trillion. This allowed the cryptocurrency to consolidate above the mark of $94,000 per coin and outperform Google.

The rise in the asset's value occurred as trade tensions between the US and China have eased. Investors perceived the softening rhetoric of the White House as a positive signal, which stimulated a surge in demand for risky assets. Meanwhile, the Nasdaq index added 2% as the technology sector rebounded.

Earlier, bitcoin's market capitalization had already risen above $2 trillion when its price exceeded $109,000. However, at that time, the cryptocurrency was still behind the largest technology companies. Now the situation has changed: BTC is rapidly approaching the world's top 4 assets while showing higher growth rates and returns than even those of Nasdaq.

The market is seeing bitcoin as not just a speculative asset, but as a full-fledged macroeconomic instrument capable of competing with traditional stock market majors, according to CoinDesk.