Bitcoin is the 6th Largest Currency in the World
December 3, 2017
According to the Bank for International Settlements, Bitcoin is now the sixth most circulated currency in the world, behind five super powers, and outranking the Pound, the Ruble, and the Won. This information is based on a value of Bitcoin at 10,765 dollars each, this fact means that the total value of all Bitcoins in circulation is 180 billion dollars.
If Bitcoin rise to 15,000 dollars, it will overtake the next highest circulating currency, the Rupee. The other four currencies outranking Bitcoin are the Yen, Yuan, Euro, and Dollar, all of which have dramatically greater levels of currency in circulation (the Dollar, for example, stands at 1.4 trillion dollars). Other cryptocurrencies are also following suit, Ethereum takes 17 place, and Bitcoin Cash takes 20 place.
Of course, these numbers are somewhat skewed, because the value of notes in circulation is not reflective of the total value of a currency. Nevertheless, the numbers reveal the substantial power of Bitcoin in terms of currency interactions.