BTC Is Now The World’s 11th Largest Money Supply

As you have seen from the latest cryptocurrency news that we have been posting over the course of the past 3 years, Bitcoin is growing and rising every day. According to a new report, BTC is now the eleventh largest money supply in the world.

With a market capitalization of over $300 billion, Bitcoin is larger than the money supply of South Korea, Australia, Canada and Brazil. According to the stats, it could soon enter the top ten and outpace the likes of Russia and India, too.

According to the cryptocurrency trader going by the handle ‘Rhythm Trader’ BTC is now the eleventh largest currency in the world. He was re-shared on many best cryptocurrency news sites for his tweet that says:

“Bitcoin is now the 11th largest money in the world, and it obtained this with only a nine-page paper created anonymously fueled by a grassroots movement. Millions of people have chosen a bank with no CEO, office or marketing department and it should absolutely blow your mind.”

https://twitter.com/Rhythmtrader/status/1159054913302777856

As you probably know, gold is clearly the world’s most popular store of value for years. Gold has a capitalization of over $8 trillion. By comparison, BTC is now a tiny fraction of this which means that it has plenty of room to grow. Silver, which is very stable and hardly fluctuates, also has around $800 billion according to the charts, and Bitcoin represents a quarter of that.

In the coming altcoin news, there are many comparisons between cryptocurrencies and companies. Bitcoin (BTC) currently ranks 27 with a $207 billion market cap as the 27th largest company by market cap in the world – where giants such as Microsoft, Apple, Amazon, Alphabet (Google) and Facebook make up the top five, all with markets caps of $560 billion to over $1 trillion.

However, BTC is now just below the American multinational pharmaceutical company Merck & Co. In terms of its market cap, Bitcoin is larger than Comcast, Boeing, Oracle, Pepsi, Citigroup, McDonalds, Netflix and Nike.

Even though these stats may surprise you, they are simply a comparison of the current state of Bitcoin investments. They are also a testament to the monumental growth of Bitcoin since Satoshi released it in a white paper in 2008.