Now Bitcoin Represents 1.3% of Total Global Finance.
River, a Bitcoin analysis platform ($BTC ), in its latest research reveals that Bitcoin currently accounts for 1.3% of the total circulation of global currency.
In other words, although its value is still greater than fiat currency, the circulation of Bitcoin is beginning to dominate the global market. Data from BGeometrics and the World Gold Council categorize the total money supply into two main categories, namely fiat money such as currencies issued by governments and hard money such as crypto digital assets.
Currently, global fiat money is approximately US$108.2 trillion or 83.2%, while hard money is US$21.9 trillion or 16.9%.
Global fiat currency is currently led by the Chinese yuan at the largest amount of US$44.0 trillion, followed by the US dollar at US$20.9 trillion, the euro at US$17.0 trillion, the Japanese yen at US$8.5 trillion, the British pound at US$4.0 trillion, and other fiat currencies at US$13.8 trillion.
Meanwhile, hard money, which is long-term in nature, is still dominated by gold at US$20.2 trillion, while Bitcoin is now valued at US$1.7 trillion, making it about 1.3% of total global money.
Additionally, the reason Bitcoin is starting to attract attention is that one of these digital assets can serve as a hedge and be shielded from inflation.
The growth of Bitcoin also marks an increase in the adoption of this digital asset indeed for the long term and as an alternative store of value besides gold.
River, a Bitcoin analysis platform ($BTC ), in its latest research reveals that Bitcoin currently accounts for 1.3% of the total circulation of global currency.
In other words, although its value is still greater than fiat currency, the circulation of Bitcoin is beginning to dominate the global market. Data from BGeometrics and the World Gold Council categorize the total money supply into two main categories, namely fiat money such as currencies issued by governments and hard money such as crypto digital assets.
Currently, global fiat money is approximately US$108.2 trillion or 83.2%, while hard money is US$21.9 trillion or 16.9%.
Global fiat currency is currently led by the Chinese yuan at the largest amount of US$44.0 trillion, followed by the US dollar at US$20.9 trillion, the euro at US$17.0 trillion, the Japanese yen at US$8.5 trillion, the British pound at US$4.0 trillion, and other fiat currencies at US$13.8 trillion.
Meanwhile, hard money, which is long-term in nature, is still dominated by gold at US$20.2 trillion, while Bitcoin is now valued at US$1.7 trillion, making it about 1.3% of total global money.
Additionally, the reason Bitcoin is starting to attract attention is that one of these digital assets can serve as a hedge and be shielded from inflation.
The growth of Bitcoin also marks an increase in the adoption of this digital asset indeed for the long term and as an alternative store of value besides gold.
