Bitcoin 
$64,566 recently reached a new historical peak, with its value soaring to $124,457 on Thursday. This remarkable ascent briefly propelled its market capitalization past that of Alphabet, Google’s parent company. Although a similar event occurred in July, a subsequent pullback in Bitcoin’s price to $121,718 allowed Alphabet to regain its position. According to data from Companiesmarketcap, Bitcoin is currently the sixth most valuable asset globally. To surpass Alphabet again, Bitcoin needs an additional $2 billion in market cap, and for Apple, it requires a $36 billion increase.
Bitcoin Achieves a New All-Time High
Bitcoin’s latest surge to $124,457 catapulted its market value above Alphabet for a brief period. This achievement marked the second time Bitcoin has overtaken the California-based tech giant within a year. In July, Bitcoin managed to surpass Alphabet momentarily, demonstrating its volatile yet upward-striving nature.
Currently, Bitcoin stands as the sixth most valuable asset, demanding an additional $2 billion in market cap to surpass Alphabet again. If Bitcoin reaches this milestone, its next target will be Apple, requiring a $36 billion increment. These calculations assume that Alphabet’s and Apple’s market caps remain stable.
Approaching the $130,000 Mark?
Market expectations have surged, with Polymarket data indicating a 46% probability of Bitcoin surpassing $130,000 in August. The chance of Bitcoin climbing above $150,000 within the next two weeks is estimated at 5%. Analyst Miles Deutscher has stated that Bitcoin might be entering a parabolic phase, while Polymarket believes there’s a 15% chance it could reach $200,000 by year-end.
In terms of returns, Bitcoin has outperformed gold so far this year. The XAUT/Bitcoin pair on Bitfinex is down by 3% since the beginning of the year, following a 42% decline in 2024. Galaxy CEO Mike Novogratz expressed confidence in Bitcoin eventually outpacing gold, which currently holds a market value of approximately $22.893 trillion.
