Although hard to imagine, Bitcoin is now the 6th largest world currency, beating more than 170 different fiat currencies including the Russian Ruble.
Barely more than a decade old, Bitcoin is now ranked among the 10 largest world currencies.
There is no African fiat currency that comes close to beating the Bitcoin market cap.
Here is a list of the top world currencies and where bitcoin stacks up:
- The United States Dollar (USD) – $1.95 trillion
- The Euro (EUR) – $1.38 trillion
- The Chinese Yuan (CNY) – $1.15 trillion
- Japanese Yen (JPY) – $1 trillion
- Indian Rupee (INR) – $425 billion
- Bitcoin (BTC) – $216 billion
Although this comparison might not exactly fit the conventional approach, the market capitalization of bitcoin puts it squarely in 6th position right ahead of the Russian Ruble.
A deep dive into the world of cryptocurrencies however reveals a much higher market capitalization for the entire industry.
The growing demand for DeFi has also accelerated the growth in the industry with almost $8 billion added into the space in less than 3 months.
The rise of Bitcoin in value in just 10 years is in stack contrast to the world’s currencies, making it the best investment of all time.
Follow us on Twitter for latest posts and updates
Open a Paxful Bitcoin Trading Account today!