Shortly after Bitcoin (BTC) broke a new record of $40,000 on Friday, the cryptocurrency’s market cap outperformed Facebook’s. It is standing close to surpassing Tesla, Amazon, Microsoft, Google and Apple if it continues its rally.
According to data from Coinmarketcap, the total cryptocurrency market cap surpassed $1 trillion. The BTC market cap alone is $770 billion as of this writing.
Since December, the number one cryptocurrency is experiencing an amazing rally, largely due to the increasing institutional investors’ interest, Many investors are throwing the towel on gold to buy Bitcoin instead.
Cameron Winklevoss, founder of Gemini cryptocurrency exchange said: “Bitcoin has surpassed Facebook in market cap. Makes sense that a money network would be more valuable than a social network.”
Surpassing Facebook’s market cap means a lot to the Winklevoss twins who are major holders of Bitcoin. The twin sued Facebook in 2004 and alleged that Mark Zuckerberg stole their idea of founding Facebook. ‘=
