Bitcoin is the 8th Largest Currency in the World, Beating Russian Ruble and South Korean Won

  • Bitcoin is the 11th largest monetary system at $0.2 trillion market cap
  • BTC just getting started and preparing to shoot past silver & take over gold at first spot

Created in 2009, the world’s first cryptocurrency is on its way to becoming the largest monetary system in the next few years. However, for now, we are at the 8th spot excluding gold and silver.

A peer-to-peer version of electronic cash that can be sent without going through a financial institution, the leading digital asset is harboring the characteristics including decentralized, censorship resistance, unconfiscatable, verifiable, and being deflationary.

This cryptocurrency is not only better than any fiat system but in many ways beats the traditional haven asset, gold.

Bitcoin as a Monetary System

Per the chart shared by Crypto Voice, Bitcoin is very close to coming at the top in terms of a monetary system.

Taking a look at the world currencies, Bitcoin holds a place at the 8th rank at $0.2 trillion value, the same as Russian Ruble and South Korean Won. Per this, Bitcoin has already beaten the likes of Mexico, Australia, Canda, Poland, Sweden, Singapore, Israel, Turkey, Argentina, South Africa, Iran, and Norway among many others.

The monetary system that Bitcoin needs to beat now is India, Switzerland, the United Kingdom, the United States, Eurozone nations, China, and Japan.

As a side note, Crypto Voice shared that naira, the 28th largest money in the world was taken over by Bitcoin in October 2016.

It has been further clarified that,

“Don’t know their methodologies, but Saudi Arabia and Denmark, for example, are pegged currencies, so their base money is the USD and EUR, respectively, and shouldn’t be counted. The correct economic comparison is the monetary base value of each currency’s central bank.”

However, on adding gold and silver to the mix Bitcoin holds the position at 11th rank. While gold holds the first place with $7.7 trillion market capitalization, silver is at sixth spot with a market capitalization of $0.8 trillion.

Bitcoin to Shot Past Silver & Take Over Gold

After the brutal winter of 2018, the crypto market has gone through crypto spring and now getting ready to enter summer as the flagship cryptocurrency shot past $10,000 to $10,960, the 17-month high.

We are slowly making our way to the all-time high of $20,000 from December 2017. An interesting and bullish event coming onto Bitcoin’s way is reward halving in 2020 that will give BTC prices another boost. Experts have predicted as high as $1 million per BTC by then that will have its market capitalization cross the trillion dollar threshold and overtake gold easily.

Bitcoin is just getting started and it has a long way ahead of itself.

Bitcoin’s price is $57,168.52 BTC/USD exchange rate today. The real-time BTC market cap of $1.07 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $26 Billion and live coin value change of BTC -0.43 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$57,168.5201 change ~ -0.43%

Coin Market Cap

$1.07 Trillion

24 Hour Volume

$26 Billion

24 Hour VWAP

$56.54 K

24 Hour Change


Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide