Bitcoin Smashes Records: Now the 6th Largest Global Asset (And Wall Street Hates It)

Move over gold, oil, and tech stocks—Bitcoin just bulldozed its way into the top 6 assets worldwide. The OG crypto’s market cap now dwarfs 94% of Fortune 500 companies. Not bad for ‘magic internet money.’

How did we get here?

While traditional finance was busy shorting ETFs and debating inflation, Bitcoin quietly ate the financial system. No bailouts, no board meetings—just relentless code doing its thing. The ultimate ‘move fast and break things’ play.

The irony? Banks that called it a scam in 2017 now hold more BTC than Satoshi’s original wallet. Meanwhile, retail investors who bought the dip are laughing all the way to the decentralized bank.

One hedge fund manager sniffed: ‘It’s not a real asset class.’ Then again, these are the same geniuses who missed Tesla, Amazon, and now this. Maybe ‘real’ assets are the problem.

BTC’s growing adoption has contributed to the rise in its market cap

Bitcoin saw its market cap rise following the massive institutional adoption after the launch of spot ETFs. The US Securities and Exchange Commission’s ETF approval triggered significant capital inflows from institutional players worldwide. 

As of June 9, BlackRock’s iShares Bitcoin Trust (IBIT), the largest BTC exchange-traded fund on the market, had pulled in over $70 billion in total assets, growing more quickly than any other ETF. Fidelity’s FBTC ranked second with $20 billion, and Grayscale’s GBTC came in third with just under $20 billion. 

President Donald Trump’s support for bitcoin has propelled the asset’s status and driven adoption. During his campaign days, he hinted at a Bitcoin reserve, which he signed an executive order on when he assumed office. He also signed an executive order to establish a digital asset stockpile.

Analysts now believe BTC could easily surpass $200,000 in the next few years.

If this growth trend continues, Bitcoin could approach—or even overtake—Microsoft and Nvidia, and become the largest asset of all time, especially if the US maintains a pro-Bitcoin approach.

In the Bitcoin Magazine podcast in April, Zach Shapiro, the head of policy for the Bitcoin-focused BPI think tank, argued that a US government purchase of 1 million BTC WOULD significantly affect the asset’s price.

He said, “If the United States announces that we are buying a million Bitcoins, that’s just a global seismic shock. […] I think first, Bitcoin price goes through the roof. I think we’d probably go very quickly to something like a million dollars per Bitcoin.”   

BPI executive director Matthew Hines also claimed that other countries are watching closely to see how the US approaches Bitcoin before shaping their policies. Hines added that the TRUMP administration’s desire to make the US the BTC superpower will hinge on how much Bitcoin they’ll hold.

The UK’s CMA is investigating Alphabet, focusing on Google’s search and ad services

Alphabet is grappling with increased regulatory scrutiny, antitrust probes, and a dip in its digital ad earnings. The company is also dealing with fierce competition from its AI-focused rivals, threatening to upend the dominance of AI-driven ad tools like Performance Max and its generative search summaries.

Google is still under antitrust investigations in the UK and the EU. The UK’s Competition and Markets Authority (CMA) is currently reviewing Google’s search and advertising services under the Digital Markets, Competition and Consumers Act 2024 to determine whether the company should be granted Strategic Market Status (SMS). 

The CMA’s roadmap includes early priorities such as requiring choice screens for users to access various search providers, ensuring fair ranking principles for businesses, enhancing publishers’ content transparency, and enabling consumer data portability to foster innovation.

Meanwhile, the European Union is also looking into AI overviews under the Digital Markets Act (DMA), claiming they favor Google-owned content and divert traffic from third-party websites. According to an Ahrefs study, AI overviews caused nearly a 35% dip in organic website clicks, possibly lowering publishers’ ad revenue. 

If the EU finds fault with AI overviews and Google, the tech giant could be penalized and obliged to pay fines.

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