Bitcoin just overtook @Google and @amazon to briefly become the 5th largest asset globally; a landmark moment.

As our CIO, Vincent Liu @a_year_from_now notes, "If ETF demand sustains and rate cut expectations firm up, $BTC could test $130K–$150K before year-end.”

But the real story? Flows are fragmenting within crypto; between spot and perps, Layer 2s and mainnet, reshaping market structure at the edges.