With bitcoin surge, cryptocurrencies top $100 billion in market capitalisation.

The investment category of cryptocurrencies hit a new milestone on Tuesday, one that would have been unfathomable just a couple of years ago: $100 billion in combined market capitalization.

The break above the 12-digit threshold is largely attributable to bitcoin, which is by far the largest digital currency in the still-nascent category, and which has been on a tear lately.

Bitcoin BTCUSD, +6.77% has more than tripled in 2017, according to crypto pricing site CoinDesk, and on Tuesday it rose nearly 13% to a record of $2,903.42. With those gains, it has brought its market cap to $46.68 billion, accounting for nearly half of the entire category.

At its current size, bitcoin has surpassed the market capitalization of such major companies as Ford Motor Co. F, -1.43% Deere & Co. DE, +0.14% and Delta Air Lines Inc. DAL, +0.20% It is larger than more than two-thirds of the components of the S&P 500 SPX, -0.11%

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