The total crypto market cap has hit $1.413 trillion, surpassing Google Class-A (GOOGL) and Class-C (GOOG) shares on the 10th of February. The new milestone marks the first time the total crypto market cap would overtake Google’s stock.
At press time, both Google Class-A and Google Class-C have a market capitalization of $1.4 trillion each.
The surge in the total crypto market value can be tied to recent news on Tesla’s BTC investment. Tesla announced in a filing with the US Securities and Exchange Commission (SEC) that it bought $1.5 billion worth of Bitcoin. In the filing, Tesla said the crypto investment is part of its updated treasury policy.
Before reaching its new milestone, the crypto market value hit $1 trillion back in January. At the time, Bitcoin reached $37,000 for the first time, while ETH crossed $1,100 for the first time in three years.
The top two digital assets – Bitcoin and ETH – recently achieved new highs. Bitcoin hit a record high of over $48,000, and ETH hit $1,800 for the first time.
At the time of writing, BTC is down 4.48% to $44,657.16. Ether has also declined 1.03% and is currently trading at $1,723.24. In the last 24 hours, ETH had traded at a high of $1,826.70.