Bitcoin Now Worth More Than Amazon — and Canada’s GDP

Bitcoin’s breathtaking July surge has rewritten the global asset leaderboard. In Monday’s Asian session the flagship cryptocurrency spiked to an all-time high of $122,600, lifting its market capitalisation to about $2.40 trillion. That figure tops Amazon’s $2.3 trillion valuation and eclipses Canada’s projected 2024 gross-domestic-product of roughly $2.21 trillion — an economic milestone few would have imagined during the last bear market.

ETF Buying Spree Fuels the Climb

Cointelegraph notes that spot-Bitcoin exchange-traded funds booked a seven-day streak of net inflows, pushing total holdings above 1.4 million BTC. BlackRock’s IBIT alone added over $1 billion last week, according to Farside Investors data cited in the same report. Analysts credit that wall of passive demand for absorbing sell pressure and catapulting price through several psychological ceilings on its way to $120 K.

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