Bitcoin Is Now the 7th Largest Currency in the World Currency Ranking

Deepshikha  |  Dec 10, 2020

With the US dollar market capitalization at $4.9 trillion, Bitcoin has locked the position as the 7th largest currency in the world by trading at $0.36 trillion. Succeeded by Indian Rupee which is at $0.6 trillion, BTC has 18,566,381 units in circulation. 

Since its inception a little over 11 years ago, BTC has witnessed its price increase continuously and also an increase in its adoption by institutional investors and famous people. The time marks the journey from being the first cryptocurrency to the biggest digital asset that exists.

The valuable asset with the highest ROI, that can be stacked against gold, oil, and U.S. currency, etc is BTC for sure. The current order based on the market capitalization is

    1. US Dollar = 4.9 Trillion
    2. Euro = $1.7 Trillion
    3. Chinese yuan = $1.2 Trillion
    4. Japanese Yen = $1 Trillion
    5. Swiss franc = $0.8 Trillion
    6. Indian rupee = $0.6 Trillion
    7. Bitcoin = $0.36 Trillion
    8. Analysts say that the increase in market capitalization will soon come to an end if the liquidity of BTC increases. Additionally, when the market capitalization of BTC will double, it will cross the Indian rupee and will obtain the 4th position, crossing $1 trillion and JPY at the same time. 

      btc bloomberg

      Bloomberg announces the total exchange-traded market cap of Bitcoin ETP is closer to $12 billion. Consequently, the rising demand for exchange-traded products (ETP) reflects the increase in mainstream adoption of BTC.

      Fundamentally, the technical sound bull market of BTC is the digital age rival. With most indications pointing the same as of 2020, there is little to trip in the Bitcoin bull in 2021. It will be a noob not to expect bumps on the road with any given technology. But unless the development and digitalization, Bitcoin is a well worthy substitute for gold to have for the investment portfolio.  

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