Bitcoin's market capitalization surpasses that of Google's parent company Alphabet, making it the sixth largest asset in the world.

Gate News bot news, 8marketcap data shows that Bitcoin (BTC) has surpassed Google's parent company Alphabet, becoming the world's sixth largest market capitalization asset, behind only gold, Nvidia, Microsoft, Apple, and Amazon.

The current market capitalization of Bitcoin has reached $2.127 trillion, with a trading price exceeding $107,000. This surpasses Alphabet's market capitalization of $2.11 trillion, ranking it globally only behind gold, Microsoft, Nvidia, Apple, and Amazon. Driven by continued institutional inflows and the ongoing interpretation of digital gold amid concerns over U.S. fiscal policy, Bitcoin has risen by over 40% so far this year.

Additionally, driven by the latest developments in the U.S. GENIUS stablecoin bill, the market capitalization of the stablecoin industry has risen to a record $257 billion, growing over 20% year-to-date. Analysts believe that regulatory clarity is a key catalyst for further growth and mainstream adoption of stablecoins, while also helping to alleviate persistent concerns about reserve opacity and systemic risks.

This week, other cryptocurrency-related stocks have quietly followed Bitcoin's rise. Strategy has increased by about 4.5% since last Friday's close. Among miners, MARA is up about 6%, Riot Platforms has risen about 5%, and CleanSpark surged over 20% after JPMorgan raised its target price.

Despite the bullish market, there are still concerns. Arthur Hayes believes that Circle's valuation is "severely overvalued," indicating that even during the market rebound, there are still doubts about the bubble and sustainability in certain areas of the cryptocurrency market.

Looking ahead, cryptocurrency observers will closely watch the House's vote on the GENIUS Act, which is expected to take place in mid-July. While many bills typically start in the House, regulatory legislation like this can be initiated in either chamber, meaning that a Senate-led process is entirely routine.

If successful, the bill will be submitted to President Trump, who has publicly urged lawmakers to "achieve victory" as soon as possible.

Source: CryptoSlate