Bitcoin market cap flips South Korean won as it glides towards Google next

By: Mark Jessy

Bitcoin market cap flips South Korean won as it glides towards Google next

March 12, 2021 12:27 PM

Bitcoin's (BTC) recent price surge has taken the crypto asset total valuation past South Korea (KRW).


The top-ranked crypto-assets market capitalization recently rose above $1 trillion once again after testing its all-time high at $58,000. Reports show that the crypto asset is now bigger than the Korean won.


At press time AssetDash data shows Bitcoin (BTC) market cap is valued at $1.057 trillion which has made it more valuable than the South Korean won estimated to be 1,178,748,600,000,000 KRW in December 2020, with a valuation of approximately $1.04 trillion.


Bitcoin's market cap has previously gone above $1 trillion in February just after Tesla announced its $1.5 billion bitcoin purchase. The news sent the price of the top-ranked crypto asset to an all-time high of $58,000 in Feb before crashing days later after a tweet from Musk.


At the moment Bitcoin is within a striking distance to set a new all-time high after reclaiming $57,000 this week. The crypto asset market cap could be breathing down on Google's parent company, Alphabet valued at $1.4 trillion. The market cap of bitcoin jumped past that of Tesla and Tencent after the electric car manufacturer announced its involvement with the flagship crypto asset.


However, Apple is still in a comfortable position and not threatened by bitcoin parabolic rise as it still maintains a $1 trillion gap that separates it's market cap from bitcoins.