This year, Bitcoin's market capitalization has exceeded that of Alphabet, Google's parent company, for the third time, showing strong performance. This upward trend was highlighted by Bitcoin reaching a new price benchmark of $100,000 and the cryptocurrency industry achieving significant legislative success in the United States.
Matthew Sigel, head of digital assets research at Van Eck Global Investment, described Bitcoin surpassing tech giants like Google as a "poetic justice". For him, this is a signal that the investment world is finally opening its eyes to Bitcoin's value proposition.
Bitcoin Beats Tech Giants
It has been a great year for Bitcoin, and the broader cryptocurrency community is enjoying its success. The traditional tech industry is also on edge.
This Friday, Bitcoin's market capitalization reached $2.13 trillion, exceeding Alphabet by $30 billion. The difference is minimal, but its significance is substantial, especially since this is not the first time Bitcoin has surpassed Alphabet.
This year, Bitcoin has achieved similar performance twice more, overtaking Alphabet in April and May to become the world's fifth-largest asset and approaching Amazon.

Meanwhile, cryptocurrency-related stocks are also enjoying their own upward trend.
Cryptocurrency Stocks Rise with GENIUS Bill Passage
Stocks of companies deeply involved in the blockchain sector have recently seen a surge in performance. Coinbase's stock has risen 53% year-to-date, reaching a high of $379.

Stocks of MicroStrategy, a Bitcoin treasury company, also rose as Bitcoin's price reached $106,000. Mining companies like Riot and Marathon also benefited.
This strong upward trend was driven by notable events such as the recent U.S. Senate's approval of the GENIUS Bill. This passage represented a significant legislative shift towards pro-cryptocurrency policies in an industry previously facing a hostile environment.
According to Sigel, the increase in cryptocurrency stock values indicates a clear and important change in Bitcoin's reputation, firmly establishing its status as a promising investment.
"Cryptocurrency stocks are rising because Wall Street has finally understood. The tools of the on-chain economy are no longer scientific experiments. They are the tolls of a new financial highway," he told BeInCrypto.
For him, these events demonstrate Bitcoin's growing importance while revealing the weakened power of its long-standing competitors.
"People Are Waking Up to Bitcoin's Value"
The news of Bitcoin's market capitalization reminded Sigel of a newsletter he wrote eight years ago when he was working as a portfolio strategist at another investment bank. Its title was "Google is Evil".
The central theme of the issue strongly criticized the immense market power and social influence of major tech companies.
Sigel argued that giant corporations like Google and Facebook function as harmful monopolies negatively impacting society. He particularly condemned Google's "rent-seeking behavior", claiming that Google uses its dominant position to control cultural narratives and weaken democratic principles.
He concluded the newsletter by disclosing his first Bitcoin purchase through a trust, paying an entry price of $306.

Bitcoin's underlying infrastructure and decentralized nature remain key advantages that Sigel continues to advocate. For him, Bitcoin repeatedly surpassing Google reflects that the technology is finally receiving the recognition it deserves.
"Bitcoin overtaking Google is truly poetic justice. One sells your data, the other sells you freedom. In a world trapped in surveillance and debt, investors are choosing scarcity and autonomy," he said.
If Sigel's Bitcoin investment proves as accurate as the one he made in his 2017 newsletter, Bitcoin holders could see substantial gains.