Nvidia Hits $5T Market Cap as Bitcoin Now Trails U.S. Equities Year to Date
Nvidia's rally pushed the S&P 500 and Nasdaq returns above Bitcoin's year-to-date performance as Nvidia's market cap surpassed $5 trillion.Summary
The stock market rally, led by Nvidia, has caused the S&P 500 and Nasdaq returns to surpass Bitcoin's year-to-date performance as of October 29, 2025. The S&P 500 is up 17% YTD, ahead of Bitcoin's 16% advance, while the Nasdaq leads with a 24% gain; gold remains the top performer at 50%.
Nvidia's market capitalization exceeded $5 trillion following a surge driven by AI-related partnerships, including deals with Palantir and Samsung, and a $1 billion investment in Nokia. Nvidia now accounts for nearly 20% of the S&P 500's gains this year and holds 8.3% of the index's total weighting, with its market cap exceeding the combined value of several major semiconductor companies.
While Nvidia continued to rise, Bitcoin slipped back below $113,000, approximately 10% below its record high, further widening the gap with leading U.S. equity indices.
(Source：CoinDesk)