rows · The global crypto market cap is $B, a % decrease over the last day. Read . Nov 11, · If, for example, one of the top coins flipped gold’s current market cap of ~$8 trillion, the resultant price would be impressive. With a circulating supply of 18,, BTC at press time, a market cap for BTC of $8 trillion would result in a single coin worth about $, Nov 28, · Bitcoin’s price may be suffering from weekend slumps yet again and it has dropped over 11 percent from the $19, level. The market capitalization is down from $ Billion to $ Billion and on-chain analysts are comparing the price action in the past week to Gold’s fractal of the 70s.
Bitcoin gold cap marketAt What Price Will Bitcoin's Market Cap Equal Gold & Reserve Currencies?
Given the scarce BTC supply and simple math, the upside in Bitcoin is enormous compared to gold, which might be on its way out as a monetary standard for the first time in its history. Could you be next big winner? I consent to my submitted data being collected and stored.
Share Tweet Send Share. Prev Next. For updates and exclusive offers enter your email below. Yashu Gola 6 hours ago. Cole Petersen 21 hours ago. Tony Spilotro 24 hours ago. It was pointed out to Dixon that he was selling snake oil. He did not correct the false information he distributed, which is a worrying trait. BambouClub SimonDixonTwitt bravenewcoin 2. Last word on Bitcoin and Gold.
Bobby Lee makes some interesting observations about the mining of Bitcoin and Gold in China. How do you measure the market cap of a currency? What Europeans call current accounts. It excludes less liquid, broad money, notably money held in time-deposits savings accounts. Bitcoin Money Supply was 41 in global rank on 1 Jan Now USD M1 changes over time.
Usually, it grows — much more quickly than the supply of Bitcoin measured in BTC — and, very rarely, decreases. The MS for Bitcoin presently is It will rise to a maximum of 21 million. You know the story, the best-performing currency in , , , , A Reserve Currency is a one that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. Reserve Currencies are normally considered to be hard or safe-haven currencies.
Source: IMF. MS of Bitcoins vs. Plus Gold, CNY. EUR excluded. That could happen in the next one or two years. This is important — status as a Reserve Currency creates a significant additional demand for that currency independent of other sources of demand, such as for payment and for investment.
So if the Pound Sterling was not a Reserve Currency, for example, its international buying power would be much weaker. Plud, Gold, China, Bitcoin. Can bitcoin reach world reserve currency scale? Finally, it is evident from the MS table that something very interesting is happening in Switzerland. They love cash. UK population 64 m. So, the Swiss Government enables its citizens to hold cash. Add to that the facts that Switzerland is the wealthiest nation in the world per capita , and that they have one of the highest rates of gun ownership in the world and they sell Bitcoins at every Railway Station — I wonder why everyone else does not just copy and paste what Switzerland does.
It would not surprise me if they start to buy Bitcoin for their reserves. My prediction here is that by , governments will become the largest buyers of Bitcoin, pushing the price up to new highs. This is the first in a two-parter. Stay tuned! BambouClub That was a great article you shared. Please update.