Bitcoin briefly overtakes Google’s market cap as price hits record $124K

     

Investors eye potential rally toward Apple’s $3.4 trillion valuation

Bitcoin surged to an all-time high of $124,457 on Thursday, briefly surpassing Google parent Alphabet’s $2.45 trillion market capitalization to become the world’s fifth-largest asset. The milestone fueled renewed optimism that the next leg of price discovery could bring Bitcoin closer to Apple’s $3.4 trillion valuation.

Gemini co-founder Tyler Winklevoss celebrated the record in an X post, while investor Kyle Chassé predicted this could be the “best week for Bitcoin.” Crypto analyst and Taproot developer Udi Wertheimer suggested Bitcoin could flip Apple if it reaches $175,000, potentially before the end of August.

Some forecasts are even more bullish. Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, projected Bitcoin could hit $250,000 in 2025 if the US Federal Reserve shifts to quantitative easing, adding liquidity to the financial system amid rising inflation.

Institutional capital fuels market momentum

Bitcoin’s rally also pushed the total cryptocurrency market capitalization past $4.1 trillion for the first time in history.

According to Bitget COO Vugar Usi Zade, the surge is being driven by institutional capital inflows supported by favorable macroeconomic conditions, regulatory clarity, and structural changes like 401(k) crypto allocations.

“This is not just speculative enthusiasm; it’s the foundation for crypto’s integration into mainstream portfolios,”

Zade noted.

Industry analysts remain upbeat. ProCap BTC CIO Jeff Park described the current setup as “the easiest BTC bull run ever,” while analyst Rekt Capital highlighted $126,000 as the next key price level to confirm another breakout after turning $120,000 into solid support.