Bitcoin Surpasses Google and Silver, Enters Top Five Global Assets by Market Cap

New York – Bitcoin has achieved a new milestone, becoming the fifth-largest asset by market capitalization worldwide. This marks the first time the world’s leading cryptocurrency has surpassed both tech giant Google and the precious metal silver.

According to CompaniesMarketCap, Bitcoin’s market capitalization currently stands at US$1.87 trillion, edging out Google’s US$1.85 trillion and silver’s US$1.84 trillion.

This historic achievement is the highest position Bitcoin has ever reached. In previous records from March and November 2024, Bitcoin was ranked eighth, trailing silver.

The recent surge in position follows a strong price rally. Bitcoin's value soared 6% in the past 24 hours, reaching US$94,300 — its highest point since early March. The rally has been driven by rising institutional interest, steady capital inflows into spot Bitcoin ETFs, and improved global macroeconomic sentiment.

A key catalyst was a statement by U.S. Treasury Secretary Scott Bessent during a private forum with JPMorgan, as reported by CNBC. Bessent suggested that current tariffs on Chinese goods resemble a “trade embargo” and signaled that a de-escalation process would soon begin, even though a final deal may take time.

In the face of global uncertainty, analysts say Bitcoin is regaining its role as a hedge against inflation and geopolitical risks. A weakening U.S. dollar, persistent inflation concerns, and expectations of monetary easing by the Federal Reserve are further supporting demand.

Sentiment was also bolstered by President Donald Trump’s announcement of a significant reduction in U.S. tariffs on Chinese imports and his confirmation that Jerome Powell will remain as Federal Reserve Chair — helping to stabilize investor confidence.

Meanwhile, Bitcoin spot ETFs in the U.S. recorded a historic net inflow. On April 22, 2025, a cumulative net inflow of US$936 million (Rp15.7 trillion) was reported across 11 spot ETF products, setting a new record since January 17, 2025.