#比特币市值超越亚马逊# **As of August 2025, Bitcoin's market capitalization has repeatedly surpassed Amazon, becoming the fifth or sixth mainstream asset in the world by market capitalization**. Here are the key information整理:

### **Core Data and Ranking Changes**
- **May 2025**: Bitcoin market capitalization reaches **$2.045 trillion**, surpassing Amazon for the first time (market capitalization not specified, but lower than Bitcoin), ranking fifth globally.
- **July 2025**: Bitcoin's market capitalization soars to **$2.4 trillion**, surpassing Amazon ($2.3 trillion), silver ($2.2 trillion), and Google's parent company Alphabet ($2.19 trillion), jumping to fifth place globally, only behind Apple ($2.407 trillion).
- **August 2025**: Bitcoin's market capitalization rises to **$2.428 trillion**, surpassing Amazon ($2.374 trillion), ranking sixth globally, only behind gold, Nvidia, Microsoft, Apple, and Alphabet.

### **Driving Factors Analysis**
1. **Institutional funds inflow**
- **ETF Fundraising**: The US spot Bitcoin ETF has seen a net inflow for 7 consecutive days, with a single-day high of $1.18 billion, and the cumulative assets under management have exceeded $150 billion over 18 months. BlackRock's iShares Bitcoin ETF (IBIT) has a scale of over $86 billion, far exceeding Grayscale Trust.
- **Corporate Buy-in**: Companies like MicroStrategy and Japan's Metaplanet continue to buy Bitcoin, reducing the market circulation. Currently, ETFs hold 6.6% of the total Bitcoin supply, while publicly traded companies hold about 4%.

2. **Policy Favorability**
- **US Regulatory Shift**: The Trump administration signed an executive order allowing cryptocurrencies to be included in 401(k) retirement accounts, potentially unlocking up to $9 trillion in available funds. The Republican-led "Crypto Week" passed legislation such as the "GENIUS Act", providing a federal regulatory framework for stablecoins, ending a long-standing uncertainty.
- **Strategic Reserve Proposal**: The Trump team promotes the establishment of a U.S. strategic Bitcoin reserve to strengthen market confidence.

3. **Macroeconomic Environment Promotion**
- **Hedging Demand**: With the escalation of geopolitical conflicts and persistently high inflation in 2025, Bitcoin has benefited as "digital gold," with a year-to-date increase of 25.2%.
- **Supply Tightening**: Bitcoin's daily new supply is only 900 coins, while institutional demand exceeds that by more than 5 times, tightening liquidity and driving up prices.

### **Market Impact and Controversies**
- **Milestone of Mainstreaming**: Bitcoin has transitioned from a "speculative asset" to a "core asset," with institutional holdings exceeding 30% of circulating supply, including exchanges, ETFs, listed companies, and sovereign entities.
- **Volatility Risk**: Some analysts predict that Bitcoin may retest the $100,000 support level, while optimists are looking for a rise to $145,000 - $160,000. The Federal Reserve's monetary policy, inflation data, and geopolitical conflicts may still trigger significant volatility.
- **Policy Dependency Concerns**: If the Democratic Party regains control of Congress or international anti-money laundering regulations are strengthened, the increase in Bitcoin may be adjusted.

### **Future Outlook**
- **Ranking Competition**: Bitcoin's market capitalization is only $7.3 billion away from Apple's, which ranks fourth globally (data from July 2025). If ETF funds continue to flow in and favorable policies persist, it may further approach Apple and even challenge a higher ranking.
- **Long-term trend**: With the increase in institutional participation and the improvement of regulatory frameworks, digital assets may occupy a more central position in the traditional financial system.