Bitcoin is now bigger than Alphabet, the parent company of search giant Google, once again after the leading cryptocurrency hit a new record peak of $124,128 earlier this Thursday.
This is not the first time that the flagship coin has raced ahead of the Mountain View, California-based tech giant. As reported by U.Today, it also managed to achieve such a feat in July.
Bitcoin is currently the fifth most valuable asset by market capitalization.
The price of the leading cryptocurrency would need to soar to roughly $175,000 for the cryptocurrency to surpass iPhone maker Apple, which is the next company on the list (assuming that the market cap of the tech giant remains roughly the same).
$130,000 in August?
According to Polymarket bettors, Bitcoin now has a 46% chance of surpassing the $130,000 level as early as this August.
There is also a 5% chance that the bellwether coin will be able to top $150,000 during the remaining two weeks.
According to analyst Miles Deutscher, Bitcoin's parabolic phase is about to begin.
There is currently a 15% chance of Bitcoin skyrocketing to $200,000 this year.
Outperforming gold
Following the latest price surge, Bitcoin is now finally ahead of gold once again on a year-to-date basis.
The XAUT/Bitcoin pair is down 3% on the Bitfinex exchange since the start of the year after collapsing by 42% in 2024.
As reported by U.Today, Galaxy CEO Mike Novogratz recently predicted that Bitcoin could end up surpassing gold.
The yellow metal is currently the most valuable asset, with a market cap of roughly $22.893 trillion.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team