Bitcoin surpasses Google in market capitalization, ranking 5th among major assets.

## Updated all-time high

The market price of the cryptocurrency Bitcoin (BTC) reached $124,400 (approximately ¥18.2 million) on the 14th, setting a new all-time high. *Source: CoinMarketCap

The market capitalization based on circulating supply has reached approximately $2.45 trillion (around ¥358 trillion), surpassing the U.S. Google (approximately $2.448 trillion) among the world's major assets such as precious metals, listed companies, and ETFs (exchange-traded funds), rising to 5th place.

Data source: 8marketcap.com (as of 8/14) *Note: The market capitalization of Bitcoin is calculated as market price × supply, which is different in nature from the market capitalization of companies (based on revenue, etc.).

The background of the rise includes hints of interest rate cuts by the U.S. Treasury Secretary, expectations of a rate cut by the U.S. Federal Reserve in September, and the stock market reaching new highs, all of which are associated with expectations of monetary easing.

In addition, the supply limit of 21 million coins and the continuous purchasing by companies, ETFs (exchange-traded funds), and institutional investors, along with withdrawals from exchanges (reducing liquid supply), are pushing up the price formation.

Three Characteristics That Assess Bitcoin

• Decentralization and censorship resistance: No central administrator, strong against geopolitical risks and capital controls.
• Scarcity and inflation hedge: The issuance limit is fixed, and the supply structure differs from that of fiat currency.
• Independent risk-return structure: Portfolio diversification effect with different price movements compared to stocks and bonds.

Due to these characteristics, strategic holdings (treasury strategies) by nations and companies are expanding globally. Examples include MicroStrategy and Tesla overseas, and Metaplanet and Remixpoint in Japan.

Future Outlook and Impact of Supply Reduction

From its birth in January 2009 (the genesis block), it reached the 5th highest market capitalization in the world in just 16 years. Economist Yusuke Narita also mentioned at the end of last year that "the growth rate surpasses that of Tokyo's high-rise apartments, pure gold, and Apple stocks," referring to the extraordinary speed of value formation.

A research team from the U.S. Satoshi Action Education estimates that there is a 75% probability that the price of 1 BTC will reach approximately $4.81 million by April 2036 with the latest model. This prediction is based on the premise of a capped issuance and a decrease in liquid supply. If realized, the market capitalization would be about $88.65 trillion, surpassing the current gold market (approximately $22 trillion). However, prices are subject to fluctuations due to market conditions and investment trends, so caution is advised.

Bitcoin (BTC) news and price

Comparing Bitcoin exchanges | Which one offers comfortable and cost-effective trading?

a.t3-set { text-decoration: none !important; }