The total crypto market cap overtook Google stock days after Tesla announced a $1.5 billion Bitcoin investment.
It has been reported that for the first time in history, the crypto market has surpassed Alphabet’s GOOG and GOOGL in terms of market capitalization.
However, on February 10, the total crypto market cap hit $1.413 trillion by overtaking the market cap levels of Google class-A and class-C shares, as the market capitalizations of GOOGL and GOOG amount to $1.39 trillion and $1.404 trillion.
The report said that crypto market capitalization has been gaining momentum amidst an ongoing crypto rally this year by breaking the $1 trillion mark in early January.
Total crypto market cap surged above $1.4 trillion, overtaking Google stock for the first time ever https://t.co/xUGuz1zXFw — Cointelegraph (@Cointelegraph) February 10, 2021
Previously, the total crypto market cap surpassed the market cap level of Tesla, which amounted to around $815 billion 3 days ago. Soon after crypto markets broke Tesla’s market cap, the company made a massive announcement on February 8, reporting a $1.5 billion investment in Bitcoin to the United States’ Securities and Exchange Commission.
As per the sources, crypto’s recent pump puts the market behind Amazon, Microsoft, and Apple in terms of market cap. Ahead of the record-breaking crypto market cap, Bitcoin and Ether (ETH) hit new all-time highs of above $48,000 and $1,800.
Thus, after 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.
Source: Cointelegraph
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