Bitcoin enters top 5 world's largest assets, surpassing Google, Silver, Amazon

Bitcoin (BTC) has officially overtaken Alphabet (Google) to become the worlds fifth most valuable asset by market capitalization.As of April 23, Bitcoins market cap had surged to $1.87 trillion, edging past Alphabets $1.859 trillion valuation, according to asset ranking data. BTC is now only behind gold, Apple, Microsoft, and Nvidia.Top assets by market cap. Source: CompaniesMarketCap.comBitcoin beats Nasdaq 100 returns in AprilBitcoins edge over Alphabet coincides with an ongoing decoupling from its long-standing correlation with US tech stocks, especially in April, wherein BTCs price has rallied 15% despite Nasdaq 100s returns of 4.50% in the same period.BTC/USD and Nasdaq 100 price comparison chart. Source: TradingViewThis decoupling follows months of disappointment for crypto bulls, who expected a stronger post-election rally.Even with Aprils gains, BTCs price remains 16% below its $109,000 all-time high set in January, the day Trump was re-inaugurated as the US president.Source: Geiger CapitalTrumps recent criticism of Federal Reserve Chair Jerome Powell and his executive order to create a Strategic Bitcoin Reserve (SBR)which is nearing its 60-day review window in less than two weeksis helping reignite investor interest in crypto.Related: Bitcoin could hit $1M if US buys 1M BTC Bitcoin Policy InstituteChatter questioning Fed independence is having positive spillover effects on BTC, said Vetle Lunde, head of research at K33.Macro analyst Fejau stressed that capital outflows from US assets will likely benefit Bitcoin given countries cant tariff it and that it provides high beta to a portfolio without the current tail risks associated with US tech.This market regime is what Bitcoin was built for, he wrote, adding:One the degrossing dust settles, it will be the fastest horse out of the gate.Bitcoin market worth more than two TeslasAlphabet is facing headwinds in the form of regulatory crackdowns, antitrust challenges, and a slowdown in digital ad revenue. The rise of AI-focused rivals and reduced growth projections have also dented confidence in Googles long-term dominance.Source: The Japan TimesTo put Bitcoins $1.87 trillion valuation into perspective, its now worth more than two Teslas.The EV giant famously added Bitcoin to its balance sheet in early 2021, when it was trading for around $33,500. It is now sitting on around 180% gains worth over $1 billion.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.