Grassroots victory, Bitcoin became the 11th largest currency in the world

Credit currency trader and analyst Rhythm pointed out on Twitter that Bitcoin is currently the 11th largest currency in the world. For a 10-year-old rising star, this is quite impressive, especially since it comes from a 9-page anonymous white paper.

Bitcoin

Extremely expensive

After mathematical design, the supply of bitcoin is limited, which makes it more and more used as a means of value storage, and prices are rising. In terms of market capitalization, Bitcoin now exceeds the national currencies of Brazil, Canada, Mexico, Australia and South Korea.

As of press time, the market value of Bitcoin has exceeded $0.21 trillion, slightly lower than the global supply of Russian rubles.

Hard bitcoin

who is the next? After all, Bitcoin is the "hardest core" of money in history, so it will naturally face more victims.

Before India, India, the market value of Bitcoin will have to double to surpass India's money supply. The current rupee value is more than $0.4 trillion. To surpass Switzerland ($0.6 trillion), another similar increase is needed. The UK is ahead of Switzerland with a supply of $0.7 trillion and silver ($0.8 trillion).

The top five money supply are gold ($8.4 trillion), Japan ($4.9 trillion), China ($4.6 trillion), eurozone ($3.6 trillion), and the US ($3.3 trillion). .

The biggest force pushing up the market value of Bitcoin is the price. In the 2017 cryptocurrency fanatic period, Bitcoin was the 10th in the global money supply.

Moreover, this does not really reflect the circulation supply, as many of the existing bitcoins are lost or unusable forever. But it also increases its scarcity and should eventually lead to further price increases.

Many people believe that “a bank without a CEO, office or marketing department” is a good thing. As Rhythm said, "It should definitely surprise you."

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“Bitcoin is now the 11th largest currency in the world, driven by the grassroots movement, driven by a nine-page anonymous paper. Millions of people have chosen a CEO, office or marketing department. Bank, this should definitely surprise you."