Bitcoin flippens South Korean won, closes in on Google

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Bitcoin’s market cap recently surged again above $ 1 trillion. Now the asset has exceeded the total market capitalization of the South Korean won.

According to data from AssetDash, Bitcoin’s market cap (BTC) is $ 1.057 trillion at the time of publication. This exceeds the money supply of the South Korean won, which was estimated at KRW 1,178,748,600,000,000 as of December 2020 and is currently valued at around $ 1.04 trillion.

Bitcoin’s market cap first surged above $ 1 trillion in February after it was announced that Tesla had invested $ 1.5 billion in BTC. The introduction of crypto by a large company like the electric car maker quickly pushed the asset’s price to an all-time high of more than $ 57,000 on February 20.

Bitcoin price remains within striking distance of a new all-time high after regaining $ 57,000 this week, and its market cap could soon surpass that of Google parent company Alphabet. Bitcoin’s market cap has already surpassed that of two big companies this year – Tesla and Chinese tech giant Tencent – and is approaching Alphabet’s $ 1.4 trillion.

Apple holds a healthy $ 1 trillion gap between Bitcoin’s market cap and its own. Interestingly, it took Apple more than 40 years to break the $ 1 trillion mark. From the day the first bitcoin transaction was made, it took only 12 years for the crypto asset to reach a market cap of $ 1 trillion. In contrast, Google’s journey to $ 1 trillion took 22 years.