Bitcoin, which once topped the global market capitalization of silver, has been overtaken by Samsung Electronics.
According to CompaniesMarketCap, a global asset ranking aggregator, as of the 1st, Samsung Electronics and Bitcoin rank 13th and 14th in market cap, respectively. Market cap sizes are ▲ Samsung Electronics $1.492 trillion (about 2,249 trillion won) ▲ Bitcoin $1.469 trillion (about 2,225 trillion won). SK hynix, in 15th place, stands at $1.111 trillion (about 1,682 trillion won).
Until around 8 a.m. on the day, Bitcoin was holding 13th place by market cap. But when the domestic stock market opened at 9 a.m., Samsung Electronics' market cap surged, and Bitcoin ultimately ceded the 13th spot.
Right after the Donald Trump U.S. administration took office in Feb. last year, Bitcoin swelled to about $2 trillion (2,995 trillion won), surpassing silver. The price per Bitcoin, after hitting 170 million won in Oct. last year, has been steadily declining.
According to CoinDesk, Bitcoin is down about 11% so far this year and about 30% over the past year. Analysts say the appeal of the virtual asset market has weakened as investor funds have moved to assets such as gold and semiconductor stocks with relatively higher returns.