Bitcoin Surpasses Amazon. Is Apple Next?

Bitcoin, the leading cryptocurrency by market cap, briefly surpassed tech behemoth Amazon by market cap earlier today. 

The market cap of the top coin peaked at a whopping $2.36 trillion earlier this Friday. 

Several hours ago, the leading cryptocurrency reached its current all-time high of $118,667, according to CoinGecko data. 

Bitcoin briefly became the fifth-biggest by market cap, with Apple now emerging as its next target. The Tim Cook-helmed tech behemoth, which used to be the third most valuable company in the world, boasts a market cap of $3.16 trillion. 

In order to be able to surpass the iPhone maker by market cap in the near future, Bitcoin would need to surge to approximately $159,000 per coin (assuming that Apple’s valuation remains pretty much the same). 

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Microsoft, which used to swap places with Apple at the top, is currently the second most valuable company and the third most valuable asset with a market cap of $3.7 trillion. 

Nvidia is currently the most valuable company because of its absolute dominance in the realm of artificial intelligence (AI) chips. Recently, it became the third company ever to reach a market cap of $4 trillion. Some analysts have raised their price targets for Nvidia, eyeing a potential market cap of roughly $4-$5 trillion. 

Gold, the leading cryptocurrency by market cap, is the most valuable asset by market cap. It is currently valued at $22.6 trillion. 

As reported by U.Today, cryptocurrency tycoon Mike Novogratz believes that gold might be surpassed by Bitcoin as early as this decade, arguing that the latter is a more preferable option for younger generations.