Introducing the US Crypto News Morning Briefing, your go-to resource for the latest updates in the cryptocurrency world for the upcoming day. Prepare your coffee as we delve into Bitcoin's status among top assets and the impact of increasing treasury yields on the cryptocurrency. As concerns over US debt sustainability and deficits grow among investors, Bitcoin's attractiveness as a hedge against hyperinflation rises, especially as the Federal Reserve's bond purchases signal fears of inflation.

In today's crypto news highlight: Bitcoin Surpasses Amazon and Google in Market Cap

A recent report from US Crypto News revealed that Bitcoin had surpassed Google in market capitalization rankings, with its market cap standing at $1.86 trillion at the time.

The latest figures show an increase in Bitcoin's market cap to $2.16 trillion, a 14% rise since April 23. This advancement has propelled Bitcoin to the sixth spot in market cap metrics, overtaking Google and inching closer to Amazon's position.

Bitward Investment's co-founder and COO, Dariusz Kowalczyk, pointed out that Bitcoin has now become the sixth largest asset globally, with a market cap exceeding $2 trillion. The general sentiment on Twitter is that Bitcoin may soon outperform Amazon, given the narrow 2.7% difference in the market cap between the two assets.

Optimism runs high among users who believe that Bitcoin could surpass gold and become the largest asset in terms of market cap rankings. Bitcoin's rapid growth to the $1 trillion market cap milestone serves as a testament to its increasing influence amidst economic uncertainties.

Moreover, as Japan grapples with escalating inflation rates exceeding the US Consumer Price Index, Bitcoin is gaining traction as a viable alternative. Reports from US Crypto News highlight Bitcoin's emerging role as a hedge against risks associated with US Treasury markets and Traditional Finance (TradFi).

Renowned author Robert Kiyosaki highlighted the failure of a recent US Treasury bond auction, with the Federal Reserve stepping in to purchase $50 billion of its own bonds. The move underscores growing concerns among investors regarding US debt sustainability and potential inflationary pressures.

Kiyosaki predicts scenarios of hyperinflation and financial distress for many individuals, advocating for alternative assets like gold and Bitcoin as hedges against inflation. His forecast of Bitcoin reaching $500,000 aligns with Standard Chartered's projections, emphasizing the cryptocurrency's appeal amid concerns about rising money supply.

As highlighted in a recent US Crypto News publication, alternative assets like gold and Bitcoin are gaining favor as safeguards against inflation and economic uncertainties. The current economic landscape, characterized by distrust in the monetary system, is prompting investors to seek refuge in sound money alternatives such as gold and Bitcoin.

Get ready to dive into more US crypto news updates today, covering insights on crypto equities and pre-market performance indicators for various companies in the sector.