Bitcoin now worth more than Amazon: Is the world’s 5th largest asset headed to $200,000?

Bitcoin hits new high, fuels debate on whether it’s becoming digital gold of the future

Last updated:
Justin Varghese, Your Money Editor
3 MIN READ
Bitcoin is again showing why it thrives when confidence in traditional systems fades.
Bitcoin is again showing why it thrives when confidence in traditional systems fades.
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Dubai: Bitcoin has officially entered uncharted territory, smashing past the $120,000 mark and sparking intense speculation: can the world’s largest cryptocurrency now break the $200,000 barrier?

On July 14, Bitcoin hit an all-time high of $123,165, propelling its market capitalization to $2.39 trillion and making it the fifth most valuable asset globally — ahead of tech giants like Amazon, according to Companies Market Cap.

The rally marks a more than 30% jump since the start of 2025, driven largely by explosive institutional demand, ETF inflows, and favorable US policy shifts.

“Bitcoin is no longer play money for tech nerds – it’s now a structural pillar of global finance,” said Eric Demuth, CEO of Bitpanda, noting that ETF inflows surged by 175% this year compared to 2024.

What’s driving the rally?

  • Pro-crypto US legislation: President Donald Trump’s “Big Beautiful Bill”, passed July 1, promises sweeping clarity and support for digital assets, making the US officially "pro-crypto.”

  • Inflation hedge appeal: As global debt mounts and fiat currencies weaken — especially the US dollar, which is down over 10% since January — Bitcoin’s fixed supply has made it an increasingly attractive hedge.

  • Technical breakout: According to analysts at Coin Bureau, Bitcoin has finally broken above a seven-year trendline, a resistance level that has capped past bull runs.

  • Institutional, sovereign demand: Bitcoin is becoming part of national reserves, bank portfolios, and long-term investment strategies. Analysts predict a slow convergence with gold’s $15 trillion market cap.

“We’re not just talking about $100K or $200K anymore,” said Demuth. “We’re heading into a new price regime.”

Market snapshot (as of July 14):

  • Bitcoin: $120,857

  • Ethereum: $3,036

  • Global Crypto Market Cap: $3.78 trillion

  • BTC Dominance: 63.7%

  • 24h Volume: $282 billion

The broader crypto market has rallied in tandem, with Ethereum hitting a five-month high, and the total market value swelling by $1 trillion in just three months.

Why US dollar matters

Interestingly, while Bitcoin's price in USD is climbing aggressively, gains in euros and pounds are slower. This is largely due to a weakening dollar, which has fallen over 11% in six months — seen by many as a sign of broader economic strain and a possible “bitcoinization” of financial hedging strategies.

Analysts at Kobeissi Letter warned that markets are entering "crisis mode," highlighting Bitcoin's near-vertical price momentum as a global response to declining confidence in fiat currencies.

What's next for Bitcoin?

Bitcoin's trajectory is now fueled by more than hype — it’s tied to regulatory clarity, global economic shifts, and mass adoption by both institutions and sovereign nations.

With sovereign debt ballooning and fiat systems under strain, Bitcoin is increasingly viewed as a cornerstone of the next financial era, not just a volatile investment.

“Bitcoin won’t just be one asset class among many,” said Vijay Valecha, CIO at Century Financial in Dubai. “It could become the backbone of a new digital economy — and a hedge against runaway debt.”

Bottom line? As Bitcoin stabilizes above $120,000, the question isn't whether it can reach $200K — it's whether there's anything left that can stop it.

Justin Varghese
Justin VargheseYour Money Editor
Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.
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