Bitcoin Becomes 16th World’s Largest Currency, What’s Next?

Bitcoin is everywhere in 2021, and there isn’t any area of the world of finance that the cryptocurrency hasn’t begun to cut into. The asset’s booming market cap puts it in front of some of the largest publicly-traded companies in the world.

The recent rally has also helped the cryptocurrency become the 16th largest world currency overall, trailing directly behind the Russian ruble. Here’s the rest of the remaining currencies Bitcoin has left to leave in its dust as it develops into the greatest currency ever to exist.

Unstoppable Bitcoin Rally Rapidly Leapfrogging All Other Market Caps

Bitcoin at this point appears to be completely unstoppable, absorbing capital from all other markets, assets, and more. Throughout 2020, the asset stole a sizable share of the gold market, and a portion of each round of fiat money printing also made its way into the cryptocurrency.

Once FOMO kicked into high gear, the asset’s market cap has jumped from $200 billion in 2020 to over $700 billion. The total crypto market cap also hit a milestone of $1 trillion across all assets, including Bitcoin.

Bitcoin alone is now worth more than most publicly traded companies, and trails right behind Tesla. One BTC can even buy a Tesla outright at this point. But comparing the cryptocurrency against publicly-traded company shares is a stretch.

Instead, the cryptocurrency should be compared to the fiat currencies of the world, representing some of the most powerful nations. Bitcoin is most directly opposed and in competition with these other currencies, and not shares of companies like Tesla or Apple.

In Other News
1 of 180

In this comparison, Bitcoin’s massive and rapidly growing market cap now makes the cryptocurrency network the 16th largest currency in the world.

How The Cryptocurrency Stacks Up Against Other World Fiat Currencies

According to Fiat Market Cap, a spin on the popular cryptocurrency price aggregator Coin Market Cap, Bitcoin is now in 16th place in terms of overall world currencies.

The top-ranked crypto asset just overtook the Mexican peso in terms of overall value. Directly above it, lies the Russian ruble, the Swiss franc, and the Thai Bhat – which has a currency symbol that looks a lot like Bitcoin’s.

bitcoin fiat currencies

Above there is filled with mostly pounds: Australian, Taiwan, Hong Kong, Canadian, and United States. There’s also the euro, pound sterling, the rupee, lira, yen, and yuan.

Currently, the Chinese yuan is the largest currency with the most value spread across the globe, even despite the US pound acting as the global reserve currency.

What Bitcoin offers the world that these other fiat currencies do not and never will, is freedom from the nation that is attached to each currency. A non-sovereign currency would benefit all, not one signal country. And given Bitcoin’s suddenly sharp trajectory, it could be only a matter of time before it tops this list.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 Betfair Traders in 2022.

All results for the 30,635 Betfair markets traded are here and the charts are here.

Top 50 Comments on JuiceStorm.com

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from RacingTraders.co.uk was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Leave A Reply