Bitcoin is Eyeing 5 Countries with A Higher Monetary Supply: US, China, Japan, Swiss and Russia
5 Countries with A Higher Monetary Supply than Bitcoin
Often, some individuals like matching the value of existing Bitcoins against the monetary supply in individual countries.
As of now, there is no specific reason behind these comparisons, although they are a useful source for general insights. If Bitcoin was a country, it would be ranked 6th, as its overall money supply is beaten by only the five countries listed below.
Russia is the fifth worldwide in terms of total money supply for individual countries. This is understandable, mainly because the Russian Federation is amongst the most powerful nations in the globe.
Currently, the money supply in Russia is $136.4 billion, a figure that is slightly above Bitcoin's $113 billion. Although it is likely that Bitcoin will surpass Russia in the future, this is highly dependent on the situational market trends.
Switzerland is renowned for its impressive economic performance over the years. For this reason, its high monetary supply is completely justified. Among the strategies deployed by the Swiss government is avoiding the Euro and adopting a favorable stance towards digital currency, blockchain and other fintech startups.
Moreover, the country boasts of an expansive banking sector. Switzerland has a monetary supply worth $552 billion.
Usually, the details of the economic undertakings in Japan are unknown to the rest of the world. However, the country's development is an indicator that Japan continually uses successful strategies to attract foreign investors.
As a result of the remarkable development, the current money supply in Japan exceeds $900 billion. Soon, Japan is expected to become the newest trillion-dollar economy.
Surprisingly, there is still a huge disparity between the current US and Chinese economies. Previously, China has implemented tactics such as the intentional devaluation of its currency, the Yuan, as well as enacting harsh financial countermeasures to improve its economy.
Despite these efforts, China has a money supply of $1.1 trillion, which is meager for an economy of its stature.
The US is the world leader in terms of monetary supply. Presently, America has a circulation of $3.7 trillion, a figure that other nations find unassailable. Nonetheless, having such amounts of money can cause financial instability if the regulatory framework is no stern enough.
Many crypto enthusiasts believe that Bitcoin’s market capitalization value will surpass the trillion dollar mark in the future. Specifically, these individuals are confident that the value of all Bitcoins curation will exceed all other economies in the world. This would result in a meteoric rise in the value of Bitcoin.