Bitcoin’s Market Cap Eclipses South Korean won, Nears Google
Earlier today, the market cap of Bitcoin has once again risen above $1 trillion, surpassing the aggregate market capitalization of South Korean won. As per data provided by AssetDash, the Bitcoin (BTC) market cap is $1.057 trillion.
This is higher than the overall available supply of South Korean won, estimated at 1,178,748,600,000,000 KRW (valued at $1.04 trillion), at the end of December 2020.
For the first time, Bitcoin’s market cap hit $1 trillion landmark in February. The record coincided with revelation of Tesla’s investment of $1.50 billion in Bitcoin. Cryptocurrency adoption by a top enterprise such as the electric car manufacturer speedily pushed the asset’s price to an record high of over $57,000 on February 20.
Currently, Bitcoin (BTC), which is trading at $57,266, is very near its all-time high $58,102. The crypto is on course to surpass the market cap of Google’s parent enterprise, Alphabet, which commands a market cap of $1.40 trillion. The market cap of Bitcoin has already surpassed that of China’s tech behemoth Tencent and Tesla.
Apple continues to lead Bitcoin with over $1 trillion difference in market cap. Notably, Apple took over four decades to break past the $1 trillion level. Since the day when the foremost Bitcoin transaction happened, the numero uno crypto needed only 12 years to hit a $1 trillion market cap. On the contrary, Google took 22 years to hit a market cap of $1 trillion.