Bitcoin's total market capitalization has fallen back to approximately $1.09 trillion, temporarily dropping out of the top ten global asset classes. According to the latest rankings, gold, silver, and the US "Big Seven" tech stocks are now ahead of Bitcoin.
It had previously risen to fifth in the world
This ranking change does not necessarily indicate a sharp, one-sided drop in Bitcoin's value; the larger context is that other major asset classes have risen even faster. Over the past year, Bitcoin has repeatedly entered the global top ten, and in 2025 it even rose to become the fifth largest asset globally.
Public data shows that in April 2025, Bitcoin's market capitalization reached approximately $1.86 trillion, surpassing Alphabet after its price broke through $94,000. Subsequently, its market capitalization briefly exceeded $2 trillion, solidifying its position as the fifth largest cryptocurrency globally. Earlier, Bitcoin had also surpassed Berkshire Hathaway and JPMorgan Chase, entering the global top ten for the first time.
Technology stocks and gold both strengthened.
This decline in rankings occurred primarily against the backdrop of continued upward movement in large-cap US tech stocks and gold. According to data cited in the article, the total global stock market capitalization is approximately $148 trillion, with the combined market capitalization of the "Big Seven" tech giants alone approaching or exceeding $16 trillion.
Meanwhile, gold prices remain high, with the total market capitalization of gold approaching $30 trillion. In contrast, while Bitcoin still holds above $1 trillion, its relative position on the global asset rankings has been further squeezed.
The "Big Seven" tech companies mentioned in the article include Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Broadcom. These companies still constitute the largest group of assets with the highest weighting in major global stock indices.
The market is more focused on the $1 trillion mark.
Some market participants believe that the rankings themselves are more superficial; what truly matters is whether Bitcoin can maintain its $1 trillion market capitalization. Over the past two years, Bitcoin has repeatedly moved in and out of the global top ten, and such ranking fluctuations are not uncommon.
From this perspective, Bitcoin's drop out of the top ten reflects both the recent stronger performance of tech stocks and gold, and also indicates that the position of crypto assets in the global asset landscape will continue to adjust with changes in the macro environment and risk appetite.
If Bitcoin continues to stabilize above $1 trillion, the discussion about its status as a "core asset" may continue; if this market capitalization range is breached, its global asset ranking may decline further.
