NVIDIA has moved past silver in global asset rankings after its market capitalization climbed to roughly $5.5 trillion.
The stock recently traded near $227, pushing the AI chip giant behind only gold among the world’s largest assets. Silver’s market value stood near $5 trillion during the move, while gold remained far ahead at above $32 trillion.
The rally has become one of the clearest signs of how aggressively capital is flowing into AI infrastructure. Investors are now assigning multi-trillion-dollar valuations to companies tied directly to chips, cloud systems, AI model training, and enterprise compute demand.
At the same time, Alphabet is approaching its own historic milestone. It recently traded near a $4.88 trillion valuation, leaving it less than 4% away from crossing the $5 trillion mark.
Bitcoin Surpassed Google Once
Bitcoin has already shown it can move into the same valuation conversation as mega-cap tech companies. In April 2025, Bitcoin became the fifth-largest global asset by market capitalization after surging above $94,000.
Its valuation reached roughly $1.86 trillion at the time, briefly pushing it ahead of Alphabet, Google’s parent company. The move came during improving risk sentiment tied to easing US-China trade tensions.
The market environment differed from Bitcoin’s earlier move above $109,000. Even though Bitcoin’s market cap had previously crossed $2 trillion, large tech stocks were trading at much higher valuations at that time, preventing $BTC from overtaking them in the rankings.
CLARITY Act Could Become the Next Trigger
Crypto markets are closely watching the CLARITY Act as the Senate Banking Committee prepares for markup discussions.
The bill is viewed as one of the largest attempts to establish federal market structure rules for digital assets in the United States. A positive outcome could reduce regulatory uncertainty around exchanges, custody, token classification, and institutional participation.
If the CLARITY Act passes, Bitcoin could see increased institutional demand and capital inflows as regulatory uncertainty declines. Currently, $BTC ranks as the 12th-largest asset globally. Bitcoin previously surpassed Alphabet during the 2025 rally, and some market participants believe clearer U.S. crypto rules under the CLARITY Act could create conditions for a similar valuation expansion.
If Bitcoin surpasses Alphabet again this cycle following a positive CLARITY Act outcome, $BTC’s market capitalization would need to exceed roughly $4.8 trillion, implying a Bitcoin price above $214,000, or about 167.5% higher than current levels.
Related: Coinbase, Ripple, and Fidelity React as CLARITY Act Nears Major Senate Milestone
