Share this article
Nvidia Hits $5T Market Cap as Bitcoin Now Trails U.S. Equities Year to Date
Bitcoin is not just lagging gold in 2025, but its returns have also slipped below those of the S&P 500 and the Nasdaq.
Updated Oct 29, 2025, 3:06 p.m. Published Oct 29, 2025, 1:41 p.m.
What to know:
- The continuing rally in stocks has lifted the S&P 500's return this year above that of bitcoin and widened the Nasdaq's lead.
- A recent surge for Nvidia (NVDA) has pushed its market cap above $5 trillion, outpacing the combined value of other major chipmakers as AI partnerships and investments fuel explosive growth.
- Bitcoin, meanwhile, remains stuck roughly 10% below its record high.
The Nvidia (NVDA)-led rally in stocks this month has now pushed the returns of the S&P 500 and the Nasdaq above that of bitcoin .
With additional gains on Tuesday while bitcoin dipped, the S&P 500's 17% rise year-to-date is ahead of BTC's 16% advance. The Nasdaq has widened its lead over bitcoin, now higher by 24%. Gold continues to be the top-performing major asset class with a 50% rise.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
No rally in U.S. stocks can be talked about with mentioning the Mag 7 names, and specifically within that group Nvidia (NVDA). Shares are up 17% over the past five days amid a continuing barrage of AI-related partnership deals, pushing the company's market cap above $5 trillion early Wednesday.
Microsoft (MSFT) and Apple (APPL) remain just behind NVIDIA, each valued at around a $4 trillion market cap.
According to the X account Hedgie Markets, NVIDIA is responsible for nearly 20% of the S&P 500's gains this year and now accounts for 8.3% of the index's total weighting.
To put Nvidia's size in perspective, the company's market cap is now larger than the combined values of AMD, Arm Holdings, ASML, Broadcom, Intel, Lam Research, Micron, Qualcomm, and Taiwan Semi, according to Dow Jones Market Data.
Nvidia's growth has coincided with the huge developments in artificial intelligence. On Tuesday alone, the company announced a series of new partnerships with Palantir (PLTR) and Samsung, a $1 billion investment in Nokia, and a potential collaboration with the U.S. Department of Energy to build new supercomputers.
It's more of the same in opening action on Wednesday, with the Nasdaq higher by 0.5%, Nvidia up 4.6% and bitcoin slipping back under $113,000, roughly 10% below its record high.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains
Binance, Hyperliquid, and Bybit were the most affected exchanges, comprising 72% of all forced unwinds.
What to know:
- Crypto markets experienced a significant leverage reset with over $514 million in positions liquidated in 24 hours.
- Long positions accounted for $376 million of the liquidations, indicating traders were heavily betting on continued market gains.
- Binance, Hyperliquid, and Bybit were the most affected exchanges, comprising 72% of all forced unwinds.
Top Stories
