- Bitcoin’s 0.87 correlation with major stock indices shows investors treat it as part of the broader risk asset class.
- Over 2.2 million BTC held by companies and ETFs is limiting supply, supporting long term institutional positioning.
- New U.S. legislation like the CLARITY and GENIUS Acts is accelerating regulated adoption across global financial channels.
Bitcoin has surpassed Amazon in market capitalization, reaching approximately $2.34 trillion in early October 2025. This places the crypto among the world’s seven largest assets, only gold, NVIDIA, Microsoft, Apple, Alphabet, and silver.
The climb follows heavy inflows into spot exchange traded funds and expanding corporate ownership, reshaping how investors categorize the asset. Bitcoin’s market behavior has shifted alongside its valuation.
A January 2025 study showed its rolling correlation with the Nasdaq and S&P 500 rising to 0.87. The increasing alignment indicates how investors now treat Bitcoin as part of the broader risk asset spectrum rather than an isolated alternative.
Institutional Holdings
Growing institutional activity continues to influence Bitcoin’s liquidity profile. According to recent disclosures, more than 265 public and private companies now hold a combined 853,000 BTC, equating to roughly 4% of circulating supply.
Spot Bitcoin ETFs collectively custody an additional 1.4 million BTC, representing 6.6% of supply. These figures show how asset managers and corporate treasuries now function as long term reservoirs, limiting available float.
This structural tightening aligns with Bitcoin’s fixed issuance model, which caps total supply at 21 million units. Comparisons to gold remain frequent, yet Bitcoin’s transparency and portability introduce a different access model.
Regulatory Outlook and Mainstream Integration
Bitcoin’s advance coincides with changing U.S. policy under the Trump administration. Newly implemented legislation, including the CLARITY Act and GENIUS Act, offers defined parameters for institutional handling of digital assets.
This formalization has accelerated adoption across sovereign funds, pension allocators, and registered advisers. Major jurisdictions outside the United States are also refining classification standards, creating parallel pathways for regulated distribution.
As frameworks stabilize, custody and reporting structures have begun to resemble those used for equities and commodities.
Portfolio Construction
The rising equity correlation has led to scrutiny around asset classification. Bitcoin now features in diversified allocation models alongside stocks, bonds, and tokenized real-world assets. Advisors now quantify exposure using traditional risk frameworks rather than speculative overlays.
With Amazon now below Bitcoin in global rankings, attention is shifting toward Apple and Microsoft as potential future benchmarks. The realignment shows changing portfolio architecture, where scarcity based assets coexist with productivity based equities.
