Bitcoin has shattered records yet again, reaching an all-time high of $110,000 and overtaking Amazon to become the 5th biggest asset globally by market capitalization. The cryptocurrency’s rally on Wednesday proved its growing dominance as investors flock to alternative stores of value amid economic uncertainty.
Macroeconomic shifts fuel Bitcoin’s historic rally
The latest surge comes after months of sideways trading, with Bitcoin gaining 15% in May alone. Analysts point to a perfect storm of macroeconomic factors driving demand for the biggest asset globally outside traditional markets.
“Bitcoin’s new high has been concocted by an array of favorable ingredients in the macro cauldron,” said Antoni Trenchev, co-founder of crypto exchange Nexo. “Softer U.S. inflation numbers, a de-escalation in the U.S.-China trade war, and the Moody’s downgrade of U.S. sovereign debt have put the spotlight on alternative stores of value like bitcoin.”
The cryptocurrency’s resilience has stunned skeptics, especially after its April slump to $74,000 amid global macro concerns. Now, with institutional adoption accelerating, bitcoin is cementing its status as the biggest asset globally in the digital age.
Institutional demand and ETF inflows break records
A key driver behind bitcoin’s rise is the $40 billion+ flowing into spot bitcoin ETFs since their launch earlier this year. Data from SoSoValue shows that May has seen only two days of outflows, signaling unwavering institutional confidence.
Public companies are also doubling down, with corporate bitcoin holdings surging 31% year-to-date to $349 billion, according to Bitcoin Treasuries. This accounts for 15% of bitcoin’s total supply, a staggering figure that underscores its appeal as the biggest asset globally for treasury diversification.
“We’ve entered an alternate universe very different from early April,” Trenchev added. “A three-month window has opened for risk assets to thrive as a broader U.S.-China trade agreement takes shape.”
Stablecoin regulation and Coinbase’s S&P 500 milestone
Regulatory developments are further fueling optimism. The U.S. Senate recently advanced a bill to establish the first stablecoin regulatory framework, a move seen as critical for crypto’s mainstream adoption. President Donald Trump has pushed for crypto legislation to be finalized by August, adding political momentum.
Meanwhile, Coinbase’s inclusion in the S&P 500 marks a watershed moment for the industry. As the first major crypto exchange to join the index, its rise reflects bitcoin’s growing legitimacy as the biggest asset globally beyond niche circles.
On-chain data signals reduced selling pressure
CryptoQuant reports declining bitcoin inflows into exchanges—a sign of reduced selling pressure. At the same time, the supply of Tether (USDT) on exchanges has hit record highs, indicating increased liquidity in the crypto market.
“Bitcoin’s scarcity is becoming more apparent as long-term holders refuse to sell,” noted James Check, lead analyst at Glassnode. “With ETFs and corporations absorbing available supply, it’s no surprise bitcoin is now the 5th biggest asset globally.”
Gold and bitcoin: The new safe-haven duo
Bitcoin’s rally coincides with gold’s surge, as both assets benefit from risk-off sentiment. With U.S. debt concerns and geopolitical tensions simmering, investors are diversifying into hard assets, further solidifying bitcoin’s role as the biggest asset globally for hedging against inflation.
What’s next for Bitcoin after becoming the 5th biggest asset globally
As bitcoin cements its position among the world’s top five assets, analysts are eyeing $150,000 as the next major resistance level. With institutional adoption accelerating and regulatory clarity improving, the biggest asset globally shows no signs of slowing down.
“This is just the beginning,” says Michaël van de Poppe, CEO of MN Trading. “Bitcoin’s market cap could soon surpass silver and even Google as more capital flows in.”
For now, one thing is clear: Bitcoin isn’t just a cryptocurrency anymore—it’s the biggest asset globally, reshaping finance one block at a time.
