2023-10-08 17:07:46
Bitcoin can be viewed as a medium of exchange, a store of value and a unit of account. We can price almost anything in BTC – for example, the price of an iPhone 15 or the market capitalization of fiat currencies. CoinMarketCap compares bitcoin to other currencies by determining their market value also in BTC. The market capitalization of the 20 most popular fiat currencies exceeds bitcoin’s current circulating supply of 19.51 million. Closest to Bitcoin is the Vietnamese Dong (VND), with a market cap of 20,889,538 BTC. According to the market capitalization defined in bitcoin, the leading fiat currency is the Chinese yuan, which has a supply in circulation of more than 1.42 billion BTC, i.e. its market value is 72 times greater than that of the leading cryptocurrency. The US dollar is in second place with a market cap of 1.22 billion BTC, which is 64 times larger than bitcoin’s market cap. In addition, the Euro has a market capitalization of nearly 560 million BTC, the Japanese Yen (JPY) has just over 380 million BTC, and the British Pound ranks fifth with a market capitalization of 155 million BTC. The Hungarian forint is 44th in line, with a market capitalization of only 4 million bitcoins. Bitcoin is a form of digital currency that is created and stored electronically. A decentralized currency that has no issuing organization and no government, central bank, organization or hacker group can exercise total control over it. Unlike forints, euros or US dollars, bitcoins are not printed, but are “mined” by high-performance mining machines by solving mathematical problems. With the help of Bitcoin, you can buy products or services electronically – in the same way as with traditional means of payment. But what do famous economists say about bitcoin? Our related articles:
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