Bitcoin’s market capitalization surpasses Google’s $2.1 billion valuation as cryptocurrency assets increase.

Bitcoin has surpassed Alphabet, Google’s parent company, to become the sixth most valuable asset globally, now just a few percentage points behind Amazon.

This development coincides with a resurgence of optimism in the cryptocurrency market, as Coinbase’s stock experiences a significant increase due to anticipated U.S. stablecoin regulations. This combination of market dynamics and policy updates is fueling speculation that the cryptocurrency sector is solidifying its position as a mainstream macro asset class.

As of early Friday, Bitcoin’s market capitalization stands at $2.13 trillion, trading above $106,000. This surpasses Alphabet’s valuation of $2.11 trillion, positioning Bitcoin behind only gold, Microsoft, Nvidia, Apple, and Amazon in the global asset hierarchy. Bitcoin has risen over 40% year-to-date, supported by ongoing institutional investments and the narrative of digital gold amid persistent U.S. fiscal concerns.

Top company valuations (Source: CompaniesMarketcap)

While Bitcoin’s significant achievement is capturing attention, crypto equities are also experiencing their own upward trend. Coinbase shares surged more than 20% to $373 over the past week, driven by investor expectations surrounding the GENIUS Act, which passed the Senate with a 68-30 vote.

This legislation requires full reserve backing and monthly audits for stablecoin issuers and is largely viewed as paving the way for regulated banks to enter the dollar-backed cryptocurrency market. This advancement could enhance Coinbase’s revenue share linked to USDC and overall stablecoin activities.

The stablecoin market has reached a record $257 billion in market capitalization, increasing by over 20% this year. Analysts consider regulatory clarity a vital driver for further expansion and mainstream acceptance, while also alleviating ongoing concerns regarding opaque reserves and systemic risks.

Other cryptocurrency-related stocks have also seen gains alongside Bitcoin this week. Strategy, a prominent BTC balance-sheet investment, has increased by approximately 4.5% since last Friday’s close. Among miners, MARA has risen about 6%, Riot Platforms around 5%, and CleanSpark has surged more than 20% following JPMorgan’s increase of its price target for the sector.

Despite the optimistic outlook, skepticism persists. Former BitMEX CEO Arthur Hayes has claimed that Circle’s valuation is “insanely overvalued,” indicating that even during this rally, doubts remain regarding the sustainability and potential overvaluation in certain areas of the cryptocurrency market.

Looking forward, cryptocurrency observers will be monitoring the House vote on the GENIUS Act, anticipated in mid-July. While many bills typically originate in the House, regulatory measures like this can be initiated in either chamber, making the Senate-led process quite standard.

A successful passage would forward the bill to President Trump, who has publicly encouraged lawmakers to “take the win” as soon as possible.

Bitcoin is now less than $175 billion away from surpassing Amazon to become the fifth-largest asset in the world. Coinbase’s upcoming earnings report on August 7 will also offer crucial insights into how regulatory clarity and new initiatives, such as Coinbase Payments on Shopify, are impacting its revenue.

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