Subsequently hitting a new all-fourth dimension high of more than $48,000 earlier today, the market capitalization of Bitcoin has surpassed the full marketplace cap of the Russian ruble.

According to data from AssetDash, Bitcoin'due south market cap is $871 billion at the time of publication. This exceeds the money supply of the Russian ruble, which as of January was estimated to be 58.6 trillion RUB, currently valued at roughly $791.i billion. The crypto asset has also overtaken Tesla Motors in market capitalization afterward a cursory retreat yesterday — the car manufacturer'due south market cap is $813 billion at the time of publication, having fallen 1.eight% in the last 24 hours.

The price rising that led to Bitcoin flipping the ruble in value followed news that Tesla had purchased an amass of $1.5 billion in Bitcoin, to be held as an investment and store of value for its backlog cash. The price of BTC afterwards surged to a new all-time high of $48,200. Though information technology has since fallen under $47,000, the market cap of the crypto nugget remains college than that of Tesla and Facebook, and is gaining on Chinese multinational tech conglomerate Tencent, currently valued at $911 billion.

Bitcoin'due south market cap was already worth more than the full value of many fiat currencies around the world, including the Mexican peso at roughly $731 billion. Though Bitcoin (BTC) remains the top rated nugget on CoinMarketCap, the analytics website is currently listing the Tesla Model 3 to a higher place the coin in the "0" position, with the vehicle retailing at $37,990 in the U.Southward.