Bitcoin Overtakes Google’s Market Cap as BTC Hits New Peak
Bitcoin (BTC) has yet again climbed to a new all-time high. The original cryptocurrency hit a new peak of $124,128 earlier today, Aug. 14, 2024. According to companiesmarketcap.com BTC data, Bitcoin’s market cap has overtaken Google to become the 5th largest asset in the world. BTC is only bested by Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), and gold. From being an obscure “internet” money to becoming one of the most valuable entities in the world, Bitcoin has come a long way in a very short time. Source: Companiesmarketcap.com Will Bitcoin Continue To Rise After Overtaking Google? BTC’s latest rise is likely due to the positive Consumer Price Index (CPI) numbers for the month of July. The lower CPI figures have led to high expectations for an interest rate cut next month. The CME FedWatch tool has increased its chances of a 25 basis point interest rate cut in September to 94.8%. If the Federal Reserve cuts interest rates, BTC and the larger crypto market may...