Bitcoin has surpassed Amazon in market capitalization, reaching $2.429 trillion as of July 2025, placing it among the five most valuable assets in the world [1]. This milestone marks a turning point for the cryptocurrency, which was once dismissed as a niche digital experiment but is now recognized as a legitimate financial asset. Amazon’s market cap was recorded at $2.388 trillion at the time [1], highlighting the growing influence of Bitcoin in the global economy.
Bitcoin’s rise has been decades in the making. From its inception in 2009, it was largely ignored by the mainstream financial world, often labeled a speculative bubble or outright fraud. Over time, however, it attracted more attention, especially as institutional investors and major corporations began to see its potential as a store of value and a hedge against inflation [1]. The introduction of spot Bitcoin ETFs in the current year marked a critical turning point, enabling traditional investors to access the market without the technical complexities of handling crypto directly [2].
The launch of ETFs such as BlackRock’s IBIT has seen record inflows, with over $1 billion deposited in two consecutive trading days [2]. These funds have allowed pension managers, hedge funds, and other institutional players to hold Bitcoin in a more familiar and regulated format. As a result, Bitcoin’s market cap has grown significantly, reflecting increased confidence from both retail and institutional investors [1].
Political developments have also supported Bitcoin’s ascent. In July, Washington held what has been dubbed “Crypto Week,” during which lawmakers debated and advanced legislation to clarify the regulatory landscape for digital assets. These discussions signaled to investors that crypto is not a short-term trend but a growing sector of the financial system [2]. The U.S. government’s increasingly favorable stance, combined with a global appetite for inflation-resistant assets, has further fueled demand.
Bitcoin’s behavior has also started to mirror that of traditional financial assets. Its correlation with major stock indices such as the Nasdaq and S&P 500 has risen to 0.87 [2], indicating that it is now being treated more like a risk asset than a speculative play. More than 265 companies now hold Bitcoin, representing around 4% of the total supply, while ETFs collectively account for about 6.6% [2]. This growing institutional presence has helped normalize Bitcoin as part of a diversified portfolio.
Despite surpassing Amazon, Bitcoin still trails Apple and Microsoft in terms of valuation. To challenge Apple’s market cap, Bitcoin would need to grow by 15% to 35%, pushing its valuation toward $3 trillion [2]. Analysts have begun to project that, with strong ETF demand, Bitcoin could reach $140,000 by the end of the year and even $180,000–$200,000 under favorable conditions [2]. However, these are forecasts and not current valuations.
Bitcoin’s future remains subject to macroeconomic shifts and regulatory developments. A slowdown in ETF inflows or a more restrictive regulatory environment could dampen its momentum. Nevertheless, its increasing adoption and structural integration into the global financial system suggest a fundamental shift in how Bitcoin is perceived and valued [2].
Sources:
[1] Bitcoin Beats Amazon Value, Enters Top Five Assets (https://coinfomania.com/bitcoin-beats-amazon-value/)
[2] Bitcoin Just Beat Amazon. Is Apple Next? (https://www.tipranks.com/news/bitcoin-just-beat-amazon-is-apple-next)
