The cryptocurrency has managed to claw its way back to $88K after sinking all the way to $80K last week.
Bitcoin Gets a Boost from an Unlikely Ally: Google
The multi-trillion-dollar AI bubble appears to have made Google and bitcoin allies of convenience. At a time when AI startups such as Anthropic and OpenAI are throwing markets into chaos with what many consider to be overinflated valuations, Google may just be the much-needed counterbalance shrewd investors have been searching for.
The tech giant released its highly anticipated Gemini 3 model last week, touting it as Google’s “most intelligent model” capable of “PhD-level reasoning.” Google claims Gemini 3 handily outperforms competing products from both OpenAI and Anthropic across multiple benchmarks. And that’s probably true, because in a leaked memo obtained by The Information, Sam Altman, CEO of OpenAI, immediately sounded the alarm, warning his employees that Google’s new release will create “economic headwinds” for the tech mega-cap’s competitors.
Read more: Anthropic Hits $350 Billion Valuation, Adding to Fears of an AI Bubble
“We need to stay focused through short-term competitive pressure,” Altman reportedly said. “We have built enough strength as a company to weather great models shipping elsewhere.”
(Lionized billionaire investor Warren Buffett’s holding company Berkshire Hathaway, revealed a $4.3 billion bet on Google in its latest 13F filing.)
Google has not only been diligently working on AI models, but it has also invested heavily in chip technology. The 400-pound gorilla of AI chip manufacturing is Nvidia, which produces graphics processing units (GPUs). Google, however, has spent over a decade crafting its own tensor processing units (TPUs), which are innovative chips specifically designed for AI. The company released the seventh generation of its Ironwood TPUs earlier this month, a direct threat to Nvidia.
And now, with well-respected investors like Warren Buffett snapping up $4.3 billion in Google stock, many experts are hoping that the 27-year-old firm represents a level-headed bet on AI, unlike its overhyped startup competitors, who are hemorrhaging money and are projected to continue bleeding cash well into the foreseeable future. Google’s Gemini 3 announcement took place last Tuesday, but investor sentiment seemed to peak today. The company’s stock was up a whopping 6%, lifting both stock markets and, interestingly, bitcoin.
“Google has been doing excellent work recently in every aspect,” Altman said.
Overview of Market Metrics
Bitcoin was trading at $88,648.35 at the time of writing, up 1.27% since yesterday but still down 3.77% for the week, according to Coinmarketcap data. The digital asset’s price fluctuated between $85,272.20 and $88,809.01 over the past 24 hours.
( Bitcoin price / Trading View)
Daily trading volume was up 45.28% using Sunday as a benchmark, which translates to $74.48 billion or just under half of last Friday’s volume. Market capitalization inched up to $1.76 trillion but bitcoin dominance fell to 58.83%, a 0.72% decline.
( Bitcoin dominance / Trading View)
Total bitcoin futures open interest increased 0.81% to $61.18 billion according to Coinglass data. Liquidations eased significantly compared to last week, reaching a total of $116.74 million at the time of reporting. This time, it was bearish short sellers who dominated losses, with $73.15 million wiped out. Long investors lost $43.59 in liquidated margin.
FAQ ⚡
Why did Google’s Gemini 3 announcement boost bitcoin?
Because Google’s strong AI showing calmed fears of an overheated AI bubble, improving overall risk sentiment and lifting bitcoin alongside tech stocks.
How is Google influencing investor confidence right now?
Google’s advancements in Gemini 3 and its new TPU chips have positioned it as a stable, profitable AI leader compared to cash-burning startups.
Why are experts calling Google an “ally of convenience” for bitcoin?
A stronger, more grounded tech narrative from Google counteracts market chaos caused by overhyped AI startups, indirectly benefiting bitcoin.
What market reaction followed Google’s surge?
Google stock jumped 6%, boosting major indices and helping bitcoin climb above $88K as liquidations eased and futures markets stabilized.
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A Google Lança uma Tábua de Salvação ao Bitcoin
The cryptocurrency has managed to claw its way back to $88K after sinking all the way to $80K last week.
Bitcoin Gets a Boost from an Unlikely Ally: Google
The multi-trillion-dollar AI bubble appears to have made Google and bitcoin allies of convenience. At a time when AI startups such as Anthropic and OpenAI are throwing markets into chaos with what many consider to be overinflated valuations, Google may just be the much-needed counterbalance shrewd investors have been searching for.
The tech giant released its highly anticipated Gemini 3 model last week, touting it as Google’s “most intelligent model” capable of “PhD-level reasoning.” Google claims Gemini 3 handily outperforms competing products from both OpenAI and Anthropic across multiple benchmarks. And that’s probably true, because in a leaked memo obtained by The Information, Sam Altman, CEO of OpenAI, immediately sounded the alarm, warning his employees that Google’s new release will create “economic headwinds” for the tech mega-cap’s competitors.
Read more: Anthropic Hits $350 Billion Valuation, Adding to Fears of an AI Bubble
“We need to stay focused through short-term competitive pressure,” Altman reportedly said. “We have built enough strength as a company to weather great models shipping elsewhere.”
And now, with well-respected investors like Warren Buffett snapping up $4.3 billion in Google stock, many experts are hoping that the 27-year-old firm represents a level-headed bet on AI, unlike its overhyped startup competitors, who are hemorrhaging money and are projected to continue bleeding cash well into the foreseeable future. Google’s Gemini 3 announcement took place last Tuesday, but investor sentiment seemed to peak today. The company’s stock was up a whopping 6%, lifting both stock markets and, interestingly, bitcoin.
“Google has been doing excellent work recently in every aspect,” Altman said.
Overview of Market Metrics
Bitcoin was trading at $88,648.35 at the time of writing, up 1.27% since yesterday but still down 3.77% for the week, according to Coinmarketcap data. The digital asset’s price fluctuated between $85,272.20 and $88,809.01 over the past 24 hours.
FAQ ⚡
Because Google’s strong AI showing calmed fears of an overheated AI bubble, improving overall risk sentiment and lifting bitcoin alongside tech stocks.
Google’s advancements in Gemini 3 and its new TPU chips have positioned it as a stable, profitable AI leader compared to cash-burning startups.
A stronger, more grounded tech narrative from Google counteracts market chaos caused by overhyped AI startups, indirectly benefiting bitcoin.
Google stock jumped 6%, boosting major indices and helping bitcoin climb above $88K as liquidations eased and futures markets stabilized.