Bitcoin hit the $1 trillion market cap milestone twice as fast as Amazon and three times faster than Apple, data shows

Bitcoin hit the $1 trillion market cap milestone twice as fast as Amazon and three times faster than Apple, data shows

Bitcoin surged to a new all-time high above $64,000 on Wednesday ahead of Coinbase's market debut, in a rally that continues to be partly fueled by institutional buyers.

The digital token's ongoing daily price movements has propelled its market capitalization above $1.2 trillion, data from Coinmarketcap.com shows.

Bitcoin's standout performance is highlighted by its ability to have reached the $1 trillion milestone much faster than other mainstream financial assets. The world's most popular cryptocurrency took just 12 years to hit this record peak, while mega-cap US tech companies took much longer, according to a research report from CryptoParrot.

Microsoft took about 44 years to hit a valuation of $1 trillion, or about 3.6 times slower than bitcoin. Apple took 42 years for the same breakthrough event, while Amazon took 24 years and Google took 21 years.

"Based on bitcoin's recent market cap rate growth, the asset will potentially surpass the highlighted traditional assets' value at some point in the future," the research report said. "Although the technology stocks have soared from last year, none has been able to outperform bitcoin."

It's possible for bitcoin's market cap to surpass that of other mainstream assets given that it's already exceeded players like Tesla, the report added.