Bitcoin has become the fifth largest asset after breaking through to reach 94,000 dollars.

Bitcoin surpasses Google and Amazon in market capitalization, securing the position of the fifth largest asset. This milestone comes just a day after BTC surpassed $94,000. At around 11:20 AM UTC on April 23, the market capitalization of Bitcoin ( BTC ) surged to $1.86 trillion after the price rose to $94,320. The market capitalization increase of BTC has surpassed major companies in the industry such as Google and Amazon. Google's market capitalization currently stands at $1.859 trillion, while Amazon has a market capitalization of $1.837 trillion. Not only that, BTC has also outperformed silver, another safe-haven asset, on the rankings. Silver currently has a market capitalization of $1.853 trillion. However, Bitcoin still has a long way to go before it can surpass other giant companies on the list. In fourth place is the software company NVIDIA with a market capitalization of 2.41 trillion dollars, while Microsoft occupies third place with 2.72 trillion dollars. Apple ranks second with a market capitalization of 3 trillion dollars. Gold remains at the top as the largest asset by market capitalization with 22.4 trillion dollars.

At the time of the report, BTC was still the only cryptocurrency in the top 10 largest assets by market capitalization. Ethereum ( ETH ) lagged far behind in 61st place with a market capitalization of $217.5 billion. According to data from crypto.news, Bitcoin has increased by 5.8% in the last 24 hours of trading. BTC is currently trading at $93,701. However, it briefly peaked at $94,320, leading to a market capitalization increase of over 6%.

Cathie Wood believes that the market capitalization of Bitcoin could surpass gold. Last December, ARK Investment Management founder and CEO Cathie Wood predicted that BTC would one day become "bigger" than gold. At the time, BTC had recently reached $2 trillion in market cap, while gold stood at $15 trillion. Wood believes that BTC is still in its early stages, so it won't be long before this largest cryptocurrency by market capitalization surpasses gold and becomes the largest asset overall. Traditionally, gold and Bitcoin have many similarities. Both are safe-haven assets used as a hedge against inflation and the broader economic instability of traditional markets. Both of these assets also have a limited supply that needs to be mined. Furthermore, gold is often used as an indicator for BTC, as the macro trends of Bitcoin tend to follow the fluctuations of gold after a few months. Recently, gold has reached a new record high of $3,900 as investors prepare for more economic uncertainty amid rising global trade tensions and a weakening dollar. At the same time, BTC reached a new monthly high of $87,570. Shortly thereafter, BTC surpassed the $94,000 mark.