Bitcoin becomes the ninth largest currency in the world
With green lights for the rise in the price of Bitcoin, recently has been placed within the Top Ten of the world’s largest exchange currencies, equal in size to the Russian ruble, according to data from Crypto Voices.
Update of the global monetary base: $ 8,940, Bitcoin is larger than the monetary base of South Korea (2019 Q1 earned value). This means that Bitcoin’s monetary base is now the world’s 9th largest currency, number 11 if you count gold and silver, according to CV’s Twitter.
A monetary base can be defined as the total volume of a currency that is in general circulation, either in the hands of the public or in the deposits of the commercial banks that represent the reserves of the central bank.
According to the data, gold ranks first (first) with $ 7.3 trillion of the market, while Japan ranks second (second) with more than $ 4.6b of the market, and China ranks third ( 3rd) with a value of $ 4.5b.
With a market capitalization of almost 180 billion, at the time of writing, the Bitcoin cryptocurrency has been placed on a par with Russia and South Korea, surpassing the monetary base of the Mexican peso or the Brazilian real.
With a debt of 22 billion dollars, and growing as a stopwatch, it is not surprising that despite being the “largest” economy in the world, the United States is lagging behind in fourth place behind Japan, China and the Euro Zone, according to the graphic elaborated by the site specialized in cryptoactive Crypto Voices.
It should be noted that at the time of creating the Crypto Voices report, on June 22 the cost of the main cryptocurrency was $ 8940.
An interesting fact is that the high volatility of Bitcoin has decreased, compared to the first months of 2018, where the price went from 17,000 dollars to less than 6,000.
According to data from the Bank for International Settlements, cited by Market Watch, with a maximum variation of 8%, Bitcoin has equaled in volatility fiduciary currencies that are quoted on the stock exchange, including five of the 20 most traded currencies by volume.
According to Crypto Voices, with the adoption of Bitcoin on the rise worldwide, it will not be long before it reaches the monetary base of India, Switzerland, the United Kingdom and the United States.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.