As reported on the Companies Market Cap website, this price hike lifted Bitcoin’s market capitalization to approximately $2.182 trillion. Bitcoin currently trails only behind tech behemoths Apple, NVIDIA, and Microsoft, and the conventional safe-haven asset, gold, which boasts a whopping capitalization exceeding $22 trillion.

Rob Nelson from The Street shared insights from a roundtable discussion held in February, featuring Gracy Chen Chen, Bitget’s Managing Director, who expressed optimism about Bitcoin’s prospects. Chen believes that with rising institutional adoption, changing regulations, and new practical applications, Bitcoin’s market cap will eventually surpass that of gold, possibly this year or in the next few.

Once referred to as “digital gold,” Bitcoin’s role has transformed substantially. Initially viewed as a risk-averse asset, it has become more intertwined with traditional financial markets, particularly with the expected approval of spot Bitcoin ETFs in 2024. Chen highlighted this shift, pointing to Bitcoin’s increased correlation with the US stock market.

Analysts are predicting a possible surge to $150,000, bolstered by positive regulatory developments in the US. Antoni Trenchev, co-founder of digital asset trading platform Nexo, sees the current market landscape as favorable for Bitcoin. He noted that we’re still in the fourth year of Bitcoin’s price cycle, a critical period following a halving event that has historically led to significant price hikes.

As of the time of writing, BTC is trading at $109,570, marking an increase of 3% and 25% over the 24-hour and 30-day periods, respectively.

The post Bitcoin’s Unprecedented High Catapults it Beyond Amazon and Google in Global Asset Rankings appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Siu emphasized that the decision to seek a US listing is not dependent on market fluctuations but is instead influenced by timing and strategic positioning. Animoca was delisted from the Australian Securities Exchange in 2020 due to governance issues and the uncertain status of certain cryptocurrencies, but has since assembled a strong investment portfolio, with stakes in OpenSea, Kraken, and Consensys.

Animoca disclosed unaudited profits of $97 million on $314 million revenue for the year ending December 2024, marking a significant surge from the preceding year. The company, according to Siu, is the globe’s largest non-financial crypto entity, with $300 million in cash and stablecoins and over $538 million in digital assets.

Other Animoca portfolio companies, including US-based Kraken, might also pursue listings in the US around 2025 or 2026. With the return of former President Trump to office, the US has seen a decrease in enforcement actions against digital asset firms, which had previously stifled innovation and deterred foreign companies from entering the US market.

Siu referred to this as a “unique moment in time,” stating that failing to seize it “would be a tremendous missed opportunity.” Since Trump’s election triumph, the US Securities and Exchange Commission has suspended or dismissed numerous enforcement cases against crypto companies. Moreover, the Department of Justice recently dissolved its cryptocurrency enforcement unit, hinting at a more lenient approach toward the sector.

This policy shift seems to be revitalizing industry confidence. OKX, for instance, has disclosed plans to set up a US headquarters in San Jose, California, only months after resolving a $504 million case with US authorities. Furthermore, on April 28, Nexo, which had exited the US in late 2022 due to regulatory ambiguity, announced plans to reenter the US market.

The post Animoca Brands Preps for NY Listing, Spurred by Trump’s Crypto Support appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.