Bitcoin’s market capitalization has indeed positioned it as one of the world’s largest currencies when compared to the monetary base of various fiat currencies. Bitcoin was noted as the 11th largest money supply globally, surpassing currencies like the Australian dollar and South Korean won, based on its market cap at that time. However, these rankings can fluctuate with Bitcoin’s price volatility and changes in the circulating supply of traditional currencies. Bitcoin’s market cap continues to grow, often placing it in a similar range depending on the metric used (e.g., comparing it to M0 money supply, which is physical currency plus central bank reserves).

Bitcoin market trends reflect a dynamic landscape shaped by a mix of historical patterns, macroeconomic factors, and recent developments. Bitcoin has experienced significant growth over the years, with its market capitalization currently hovering around $1.5 trillion to $2 trillion, depending on price fluctuations. In 2024, it saw a remarkable rally, climbing over 150% and surpassing $100,000 in December, driven by factors like the approval of spot Bitcoin ETFs in the U.S., the April 2024 halving event (which reduced the supply issuance rate), and optimism around regulatory shifts under a pro-crypto U.S. administration.

However, recent weeks have shown some cooling, with prices retreating from a peak above $108,000 to around $94,000-$96,000, suggesting a potential consolidation phase. Institutional adoption continues to grow, with spot Bitcoin ETFs—like BlackRock’s, which became the fastest-growing ETF in history—drawing in over $35 billion in net inflows in 2024. This has bolstered Bitcoin’s legitimacy as a store of value, often compared to “digital gold.” The halving’s impact lingers, as the reduced issuance of new coins (now at 450 BTC daily from 900) tightens supply, historically a catalyst for price increases in the 12-18 months post-halving—pointing to potential upside into mid-2025.

Analysts project prices could range from $150,000 to $250,000 by year-end 2025, fueled by sustained institutional interest and a possible U.S. strategic Bitcoin reserve, though volatility remains a wildcard. On the flip side, short-term pressures are evident. Profit-taking after the late-2024 surge, coupled with a stronger U.S. dollar and scaled-back expectations for Federal Reserve rate cuts in 2025, has introduced headwinds. Market analysts suggest weak retail demand and heightened volatility, with some indicators showing a bearish tilt in sentiment.

Yet, fundamentals like network security (bolstered by over 18 million miners) and on-chain activity remain robust, supporting the idea that the bull cycle is intact, even if momentum has slowed temporarily. Seasonal trends also play a role—Q1 of U.S. presidential terms often favor risk assets like Bitcoin, potentially setting up a strong start to 2025. However, global liquidity constraints and geopolitical uncertainties could temper gains. The market appears poised for a tug-of-war between bullish catalysts (adoption, supply scarcity) and bearish risks (macro tightening, corrections), with many eyeing a possible retest of $85,000-$90,000 as a key support zone before the next leg up.

While it may still hover around the 10th or 11th spot depending on daily price movements and updates to fiat currency supplies, its exact ranking could shift. For instance, if Bitcoin’s price surges significantly, it could overtake additional currencies like the Russian ruble or even climb higher. The idea of Bitcoin as the “11th largest currency” aligns with sentiment and analyses from sources tracking its growth against fiat systems, though it’s worth noting that comparing a decentralized cryptocurrency to government-issued currencies isn’t always apples-to-apples due to differences in liquidity, usage, and economic function.

Alphabet, the parent company of Google, is set to acquire cloud security startup Wiz for a record-breaking $32 billion to $33 billion, according to sources familiar with the deal.

This acquisition, expected to be officially announced soon, will be the largest in Google’s history, surpassing its $12.5 billion purchase of Motorola Mobility in 2011.

While the agreement has been reached, the acquisition will still require regulatory and other approvals before finalization. As of now, neither Google nor Wiz has issued an official confirmation, although multiple reports confirm the deal is effectively sealed.

Wiz to Operate Independently

Under the deal, Wiz will continue to function as an independent platform, maintaining its compatibility across multiple cloud providers, not just Google Cloud Platform. The acquisition is expected to lead to further expansion of Wiz’s team. Currently, Wiz generates around $700 million in annual recurring revenue (ARR), and the company is projected to reach $1 billion in ARR this year.

Sources have likened the acquisition’s structure to Microsoft’s purchase of LinkedIn, where the acquired company retains significant operational independence while leveraging the parent company’s infrastructure. However, as seen with LinkedIn’s increasing reliance on Microsoft services over time, there is speculation that Wiz could eventually integrate deeper into Google’s ecosystem.

Deal Revived After Previous Breakdown

Negotiations between Google and Wiz have been ongoing for nearly a year, experiencing multiple on-again, off-again phases. The most recent revival of talks occurred this week, with reports suggesting an initial $30 billion offer.

Google Cloud CEO Thomas Kurian has reportedly been leading the charge on the acquisition, with Wiz CEO Assaf Rappaport currently in Israel while Kurian is in Europe. Wiz would fall under Google Cloud’s umbrella, accelerating Google’s expansion into enterprise cloud security.

In 2023, Google initially offered $23 billion for Wiz, but the deal fell through due to concerns over antitrust regulations, Wiz’s independence under Google Cloud, and the valuation. At the time, Wiz had been valued at $12 billion following a $1 billion funding round earlier that year.

Favorable Regulatory Climate?

The regulatory landscape has shifted since the earlier failed negotiations, with a new U.S. administration now in place. Some industry analysts believe this change could lead to a more favorable environment for major tech acquisitions that might have previously faced roadblocks.

Google’s primary motivation behind the deal lies in strengthening two key areas: enterprise cloud services and cybersecurity. Despite its strong presence in the tech sector, Google Cloud continues to lag behind competitors like Amazon Web Services (AWS) and Microsoft Azure. By acquiring Wiz, Google gains a rapidly growing security platform to bolster its enterprise cloud offerings.

The acquisition comes amid Wiz’s rapid business expansion. The company surpassed $500 million in ARR last year and is on track to double that figure in 2024. Following the breakdown of the initial deal with Google, Wiz conducted a secondary sale at a $16 billion valuation and was rumored to be fundraising at an even higher valuation.

During an appearance at Disrupt last year, Wiz CEO Rappaport acknowledged the previous acquisition talks, stating that Wiz had ultimately walked away from the deal—a decision he described as “the toughest ever” but also “the right choice.” Given the significantly higher valuation at which Wiz is now being acquired, it appears that Rappaport’s instincts have paid off financially.

If the deal secures regulatory approval, it will mark a transformative moment for both companies, positioning Google Cloud as a more formidable player in the enterprise cloud security sector while giving Wiz access to Google’s vast resources for further growth.

Google parent Alphabet will acquire cybersecurity company Wiz in a $32 billion cash deal, the companies confirmed Tuesday. The acquisition, if cleared by regulators, would be Alphabet’s biggest on record, with Wiz joining Google’s Cloud business. Talks between the two companies were revived recently, after Wiz walked away from a $23 billion offer from Google last summer amid concerns about regulatory scrutiny. Wiz had cited intentions to explore going public.

President Bola Ahmed Tinubu has declared a state of emergency in Rivers State, citing a prolonged political crisis and escalating security threats, including attacks on oil pipelines.

The announcement came during a nationwide broadcast on Tuesday night, marking a dramatic intervention in the governance of Nigeria’s oil-rich region.

The decision follows months of turmoil that have paralyzed governance in the state. The crisis began with a power struggle between Governor Siminalayi Fubara and his political rivals, leading to the demolition of the state House of Assembly in December 2023. Despite multiple interventions, including efforts by the president himself, no resolution was reached.

Timeline of the Crisis

The political conflict in Rivers escalated in late 2023 when Governor Fubara and his allies in the state legislature clashed over control of the state. On December 13, 2023, the governor ordered the demolition of the Rivers State House of Assembly complex, citing structural defects. However, many viewed the move as an attempt to weaken the legislative arm after 27 lawmakers defected from his party to the opposition. The assembly has remained non-functional for 14 months, effectively shutting down legislative governance in the state.

Attempts to mediate the crisis failed, including interventions by well-meaning Nigerians and stakeholders. On February 28, 2025, the Supreme Court ruled that the governor had acted unconstitutionally by rendering the legislature powerless, stating that “a government cannot be said to exist without one of the three arms that make up the government of a state.”

The court upheld that the 27 defected lawmakers were still valid members of the House of Assembly, dismissing any attempt to exclude them. However, the ruling failed to restore order as the political gridlock persisted.

Security Threats and Presidential Action

The crisis took a violent turn when militants, reportedly loyal to the governor, threatened political opponents. In recent days, attacks on oil infrastructure stirred further concern. According to security reports cited by President Tinubu, multiple oil pipelines were vandalized between Monday and Tuesday, prompting an urgent response from the federal government.

“In the latest security reports made available to me, there have been disturbing incidents of vandalization of pipelines by some militants without the governor taking any action to curtail them,” Tinubu said in his address. “I have given a stern order to the security agencies to ensure safety of lives of the good people of Rivers State and the oil pipelines.”

Despite the escalating crisis, neither Governor Fubara nor his deputy reached out to the presidency for intervention. Tinubu justified his decision, arguing that the gravity of the situation left him with no choice.

“With all these and many more, no good and responsible President will standby and allow the grave situation to continue without taking remedial steps prescribed by the Constitution,” he said. “It has become inevitably compelling for me to invoke the provision of section 305 of the Constitution to declare a state of emergency in Rivers State with effect from today, March 18, 2025, and I so do.”

Under the emergency rule, a federal administrator is expected to take over governance in Rivers State, sidelining the elected government. Thus, the president has appointed Vice Admiral Ibok-Ete Ekwe Ibas, a retired Navy vice admiral, who was the 22nd Chief of the Naval Staff (CNS) of the Nigerian Navy from 2015 to 2021, as the new Rivers Sole Administrator.

Backlash Over “Overreach”

Tinubu’s decision has drawn sharp criticism from opposition figures and civil society groups, who see it as an overreach of executive power. Many Nigerians argue that the crisis, though severe, does not warrant suspending democratic governance in one of the country’s most crucial states.

“Tinubu has no legal rights or basis to suspend a democratically elected governor. Even in a state of emergency, section 305 of the Constitution does not give the President power to suspend any Governor or Houses of Assembly from their jobs,” rights activist, Rinu Oduala stated.

Some legal experts have questioned whether the president followed due process, noting that the Nigerian Constitution requires the governor to request an emergency declaration—something Fubara did not do. Tinubu justified his move by arguing that the governor and his deputy had “failed” to make such a request despite the worsening crisis.

Economic Fallout

Beyond the political implications, analysts warn that imposing a state of emergency in Rivers, Nigeria’s “treasure base,” could have dire economic consequences. The state accounts for a significant portion of the country’s oil production, which fuels Nigeria’s revenue and foreign exchange earnings.

Kelvin Emmanuel, an economic analyst, warned that the decision puts over a third of Nigeria’s daily crude oil output at risk.

“34.6% of 1.47m barrels of daily crude oil output at 508k barrels is at risk with this current martial law,” he said.

Financial analyst Kalu Aja raised concerns about Nigeria’s economic stability, stating that the decision could hurt the country’s risk rating and increase borrowing costs.

“Nigeria, your risk rating just fell another notch. Yes, this means your borrowing costs will go up,” he noted.

Aja also questioned whether a federally appointed administrator could effectively manage Rivers’ economy, especially in securing investments.

“No serious investor will sign any agreement with a military man in a democracy,” he said. “Can a sole administrator borrow? Whose mandate? Can a sole administrator issue contracts?”