Bitcoin Hits New ATH Above $124K, Briefly Overtakes Google As World’s Fifth-Most Valuable Asset
Bitcoin surged past $124k, setting a new all-time high (ATH) and briefly overtaking Google’s $2.488 trillion market capitalization to become the world’s fifth-most valuable asset. BTC hit a record high of $124,457.12 in the past 24 hours before pulling back to trade at $121,692 as of 12:28 a.m. EST. The crypto king is up more 1.3% in the past day and 5.8% in the past last week amid buoyant market sentiment. Investors are betting that lower-than-expected US CPI inflation this week and pressure from President Donald Trump will bring interest rates cuts next month. Trump today called for a one basis point cut, while Treasury Secretary Scott Bessent yesterday urged a 50 basis point cut. The surge also saw Strategy’s BTC holdings close at a new ATH of $77.2 billion, said executive chair, Michael Saylor, in a post on X. And according to blockchain analytics firm Arkham Intelligence, the value of Bitcoin held by Elon Musk’s SpaceX also has surpassed $1 billion. The...