The entire cryptocurrency market cap passed Google stock days after Tesla declared a $1.5 billion Bitcoin investment.
Crypto markets have quickly hit a vital milestone after Elon Musk's Tesla officially declared their BTC investment.
For the first time in history, the cryptocurrency market has exceeded Alphabet's GOOG and GOOGL in terms of market capitalization.
The entire cryptocurrency market cap hit $1.413 trillion, passing the market cap levels of Google class-A and class-C shares. Now, GOOGL and GOOG's market capitalizations amount to $1.39 trillion and $1.404 trillion, respectively.
The cryptocurrency market cap has achieved momentum amid an ongoing crypto rally this year, breaking the $1 trillion target in early January.
The entire crypto market cap earlier surpassed the market cap level of Tesla, which is around $815 billion at the time of writing. After cryptocurrency markets broke Tesla's market cap, the organization made a significant announcement on Feb. 8, announcing a $1.5 billion investment in BTC to the United States' Securities and Exchange Commission.
Crypto's current pump now puts the market behind Amazon, Apple, and Microsoft in terms of market cap.
Ahead of the record-breaking cryptocurrency market capitalization, BTC and Ether (ETH) hit all-time highs of over $48,000 and $1,800, respectively.
Following Tesla's positive move into BTC investment, some in the industry thought Apple could be the next institutional player to choose the cryptocurrency asset.
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