The combined cryptocurrency market cap has recently crossed the $1.5 trillion-mark thanks to Bitcoin hitting the $50,000 psychological level.
As of writing, the combined crypto market value has overtaken Alphabet’s (Google) market cap ($1.4). The next company on the list happens is Amazon at $1.65T.
Rapid Jump from $1T to $1.5T
What is truly remarkable to consider here is just how fast the crypto market cap has climbed from $1T to $1.5T. Keep in mind that the cryptocurrency market breached the $1T-mark a little over a month ago in the first week of January 2021. For context, Alphabet hit $1T exactly a year ago in January 2020. As of now, the most valuable company in the world is Apple, at $2.28T. It took them exactly two years to double in valuation from $1T to $2T. It will be interesting to see how long it will take for the crypto market cap to reach the $2T mark.
Bitcoin Fast Approaches $1T Market Cap
Being the crypto space leader with more than 60% market dominance, Bitcoin itself is approaching the historic $1T market cap mark. As things stand, Bitcoin is more valuable than every company in the world except Apple, Microsoft, Amazon, and Alphabet. This means that Bitcoin is more valuable than the likes of Tesla, Alibaba, JP Morgan, and PayPal, among others. Since BTC has recently reclaimed the critical $50,000 line, we can expect it to gain valuation and cross the $1T mark soon.
Crypto Market Cap Breaks Landmarks Thanks To BTC Rally
It should be of no surprise to anyone that the crypto market cap could break past the $1T and $1.5T marks largely thanks to Bitcoin bullish rallies. Back in January 2021, Bitcoin jumped from $20,000 and $40,000, which ensured that market cap crossed $1T. Similarly, this latest Tesla-fuelled run to $50,000 was instrumental in pushing the market cap to $1.5T.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Title: Combined Crypto Market Cap Overtakes Google. Amazon Next.
Sourced From: cryptodaily.co.uk/2021/02/crypto-market-cap-overtakes-google
Published Date: Wed, 17 Feb 2021 16:34:33 +0000
Marla Brooks – Financial Analysis
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