07/09/2020
Bitcoin was included in the top 6 currencies by cash flow value
At the end of July, Bitcoin's capitalization exceeded $200 billion. According to this indicator, the first cryptovoltaic currency can compete with most of the fiat currencies, if measured by the volume of cash supply (aggregate M0). Only the dollar, the euro, the yen, the yuan and the Indian rupee have a higher value, Decrypt reports.
In 2017, when the price of bitcoin was approaching $ 20,000, in this tacit rating of the crypt currency took fifth place.
The U.S. dollar is the largest fiat currency by the size of the circulating supply. According to the Federal Reserve, banknotes and coins worth $1.95 trillion are in circulation, of which three quarters are banknotes worth $100 and $20.
The second line is occupied by the euro. According to the official statistics, at the time of the last update (July 2020) €1.38 trillion was in circulation. Since 2002, when the currency appeared, the figure has more than tripled. Most of the cash supply is represented by banknotes in denominations of €20 and €50.
The third place is occupied by the yuan. According to TradingEconomics calculations, there is about ¥8 trillion (~$ 1.15 trillion) in circulation. The same indicator for the fourth line yen is ¥ 106 trillion banknotes and coins in circulation (~ a little over $1 trillion). The fifth largest currency by M0 multiplier is Indian rupee with 31 trillion INR (~$425 billion).
Bitcoin is currently ranked sixth. Its current market supply is 18.48 million coins, each of which is valued at $10,800 at the time of writing. Thus, M0 for Bitcoin is about $200 billion.
During the last speech, the Fed's head Jerome Powell announced the transition to the policy of "targeting the average inflation". The crypto community took this as a signal to accelerate inflation, which could lead to increased purchases of bitcoin.
Translated with www.DeepL.com/Translator (free version)
