Bitcoin surpasses the KRW market cap
Achieved 1 trillion market capitalization, 28 years faster than Apple
The market capitalization of Bitcoin (BTC) once again exceeded $1 trillion. Bitcoin’s market cap is larger than the Korean won’s market cap.
According to data from the Global Data Platform Asset Dash on March 12, 2021 (local time), the market capitalization of Bitcoin (BTC) is $1.57 trillion (about KRW 1195 trillion). This exceeds the market cap of KRW 1.4 trillion (about KRW 1173 trillion).
Bitcoin’s market capitalization surpassed $1 trillion for the first time in February 2021 due to the announcement that Tesla has invested $1.5 billion in Bitcoin. Since then, the price of each bitcoin has soared to an all-time high of $58,000 due to cryptocurrency-related movements by conglomerates such as Square and PayPal.
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Bitcoin experienced a plunge once on February 22 (local time) after Finance Minister Janet Yellen said, “Bitcoin is an extremely inefficient and highly speculative asset.”
Bitcoin price is approaching an all-time high after recovering $57,000 this week. The market capitalization is also expected to soon surpass Google’s parent company Alphabet. Bitcoin’s market cap this year has already exceeded the market caps of Tesla and Tencent.
Meanwhile, Apple maintains the gap between Bitcoin’s market cap and $1 trillion. It took Apple more than 40 years to break the trillion dollar mark. Bitcoin has exceeded the $1 trillion mark in market capitalization in just 12 years from the date of the first bitcoin transaction.
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