Bitcoin’s valuation surged to $1.87 trillion on 23 April 2025, surpassing Google parent Alphabet, driven by regulatory breakthroughs and corporate acquisitions amid weakening dollar trends.
The cryptocurrency achieved its historic valuation milestone Tuesday as BlackRock’s spot ETF crossed $15B AUM and MicroStrategy revealed another $147M purchase, signaling deepening institutional commitment.
Regulatory Shift Fuels Rally
Bitcoin’s 15% April surge coincided with the SEC concluding its review of Grayscale’s ETF application on 13 October 2023, following a federal court mandate. This regulatory pivot comes as former President Donald Trump’s proposed Strategic Bitcoin Reserve gains traction among Republican lawmakers.
Corporate Accumulation Accelerates
MicroStrategy disclosed its tenth consecutive quarterly BTC purchase on 20 October 2023, bringing its total holdings to 158,400 coins valued at $4.1 billion. CEO Michael Saylor stated: ‘We’re witnessing the early stages of treasury reserve transformation across the Fortune 500.’
Macroeconomic Drivers Intensify
The USD Index (DXY) fell 0.8% last week as Federal Reserve Chair Jerome Powell acknowledged considering rate pause options. ‘Bitcoin is behaving like a pressure valve for currency debasement fears,’ noted Fidelity Digital Assets strategist Chris Kuiper.
Historical Precedents and Future Risks
Bitcoin’s current rally diverges sharply from its 2021 pattern when prices collapsed 55% following Elon Musk’s Tesla suspending BTC payments. The 2017 boom saw similar enthusiasm before an 80% correction over the next year.
Market technicians warn the current 14-day RSI of 89 suggests overheating, matching levels preceding the 2020 March crash. However, derivatives data shows record $34 billion in open interest as institutions hedge through CME contracts.
