Cryptocurrency market cap hits $1.4T and surpasses Google stock

Bitcoin News

Cryptocurrency markets have hit a significant milestone shortly after Elon Musk’s Tesla officially announced their investment in Bitcoin (BTC).

For the first time in history, the crypto market has surpassed Alphabet’s GOOG and GOOGL in terms of market capitalization.

On Feb. 10, the total crypto market cap hit $1.413 trillion, overtaking the market cap levels of Google class-A and class-C shares. At the time of writing, the market capitalizations of GOOGL and GOOG amount to $1.39 trillion and $1.404 trillion, respectively.

One-year crypto market capitalization. Source: CoinMarketCap

Crypto market capitalization has been gaining momentum amid an ongoing crypto rally this year, breaking the $1 trillion mark in early January.

Total crypto market cap previously surpassed the market cap level of Tesla, which amounts to around $815 billion at the time of writing. Soon after crypto markets broke Tesla’s market cap, the company made a massive announcement on Feb. 8, reporting a $1.5 billion investment in Bitcoin to the United States’ Securities and Exchange Commission.

Crypto’s recent pump now puts the market behind Amazon, Microsoft and Apple in terms of market cap. 

Source: TradingView

Ahead of the record-breaking crypto market cap, Bitcoin and Ether (ETH) hit new all-time highs of above $48,000 and $1,800, respectively.

Following Tesla’s official move into Bitcoin investment, some in the industry speculated that Apple could be the next institutional player to adopt the crypto asset.

Products You May Like

Articles You May Like

New York AG pushes prohibition of crypto purchases via retirement funds
JPMorgan Expects Major Changes Coming to Crypto Industry and Regulation Post FTX Collapse
Turkey seizes FTX assets in the country amid the ongoing investigation
Staking tech firm Kiln closes $17.8 million, eyes future ETH staking demand
US lawmakers ask DOJ hold FTX execs accountable ‘to the fullest extent of the law’

Leave a Reply

Your email address will not be published. Required fields are marked *