Bitcoin surpassed Samsung Electronics, Micron Technology and SK Hynix by market capitalization on Thursday as crypto prices advanced and a sharp selloff hit artificial intelligence memory chip stocks.
Bitcoin traded as high above $62,000 during the session before settling near $61,500, giving the asset a market value of roughly $1.23 trillion.
Samsung’s market capitalization fell to approximately $1.22 trillion after its shares dropped 9.1% in South Korean trading. The decline placed the electronics group narrowly below Bitcoin by total market value.
SK Hynix shares plunged 14.6%, reducing the company’s valuation to about $1.01 trillion. The memory chipmaker had been valued at roughly $1.35 trillion less than two weeks earlier when it briefly overtook Samsung as South Korea’s largest listed company.
Micron fell another 5.5% on Thursday after losing 10.6% during the previous session. The declines reduced the US chipmaker’s market capitalization to about $1.12 trillion.
