|Shortly after Elon Musk’s Tesla publicly revealed its Bitcoin investment, cryptocurrency markets reached a significant milestone. In terms of market capitalization, the crypto market has exceeded Alphabet’s GOOG and GOOGL for the first time in history. |
The total crypto market cap crossed $1,413 trillion on February 10, surpassing the Google Class-A and Class-C share market cap levels. The market capitalizations of GOOGL and GOOG were $1.39 trillion and $1.404 trillion, respectively, at the time of publication.
According to cointelegraph.com, crypto market capitalization gained momentum this year in the wake of an ongoing crypto rally, hitting the $1 trillion mark at the beginning of January.
Earlier, the overall crypto market cap exceeded Tesla’s market cap level, which at the time of writing amounted to about $815 billion. Soon after the crypto markets hit the market cap of Tesla, the firm made a huge statement on February 8, announcing to the Securities and Exchange Commission of the United States a $1.5 billion investment in Bitcoin.
The new Crypto pump now places Amazon, Microsoft, and Apple behind the market in terms of market value.
Bitcoin tried to trace its gains and traded around USD 48,000 yesterday but BTC has stayed well bid over USD 47,000 and is currently increasing....