Bitcoin’s market cap exceeded the total market value of the Russian ruble today, having reached a new full-time high of more than $ 48,000 today.
According to AssetDash, Bitcoin’s market cap was $ 871 billion at time of publication. This exceeds the money supply of the Russian ruble, which was estimated in January at 58.6 trillion rubles, and is now estimated at $ 791.1 billion. Cryptoactive also captured Tesla Motors in market cap after a slight drop yesterday – the carmaker’s market cap was $ 813 billion at press time, down 1.8% in the past 24 hours.
The price spike that caused Bitcoin to turn the ruble upside came the news that Tesla had acquired a total of $ 1.5 billion in Bitcoin to use as an investment and create value for its surplus cash. Then the price of BTC rose to a new full-time high of $ 48,200. Although it has since fallen below $ 47,000, the market cap of cryptocurrencies is still higher than that of Tesla and Facebook, surpassing the Chinese multinational technology conglomerate Tencent, which is currently valued at $ 911 billion.
Bitcoin’s market cap was already equal to more than the total value of many fiat currencies around the world, including the Mexican peso, worth around $ 731 billion. While Bitcoin (BTC) remains the highest-rated asset on CoinMarketCap, the Tesla Model 3 is currently listed above the coin at the “0” position on the analysis site, and the vehicle has a retail price of $ 37,990.