Bitcoin Holds 1.3% of Global Currency

cryptomantr staff

3 months ago

Bitcoin Holds 1.3% of Global Currency

Breathe deeply: With a market valuation that is close to 1.7 trillion dollars, Bitcoin currently accounts for 1.3% of global currency. Yes, you read correctly. Despite being born in 2009, a small bit of code has risen to the same level as major commodities like gold (20.2 trillion dollars) and the US dollar (20.9 trillion dollars). Satoshi arranged his serviette nicely, but we’re still a long way from turning the tables.

In just five years, the value of Bitcoin has increased sixfold!
The weight of fiat money remains at 108.2 trillion dollars (83.2%) in comparison to Bitcoin. A huge tide that is difficult to break. However, with its 1.3%, Bitcoin is that tiny, shrewd stream that begins to shift the boats. A figure that could continue to rise, especially at this moment when the American government is ready to stockpile BTC en masse.

Just five years ago, Bitcoin barely weighed 0.2% of global money. You could say it didn’t make much of an impact. And today? It’s starting to carve out a place at the table of the big players, quietly, with its well-tailored digital suit.

A respected king, but not yet invited to the market

Friends, keep in mind that the market capitalisation is just one thing. Adoption on a daily basis is another. For the time being, Bitcoin is similar to that reserved relative we adore at family dinners but haven’t invited to do the shopping or buy coffee yet. Worth a store? Of course. Payment methods? Yes, although not yet on a regular basis.

BTC USD — Bitcoin Price and Chart — TradingView

However, given that any gain in Bitcoin dominance shocks the entire menagerie of cryptocurrencies, 1.3% for Bitcoin is a good place to start. Indeed, the other currencies get sick when the king sneezes. Is altseason approaching?

What should I keep in mind? The little Bitcoin has matured nicely. It weighs, talks, and walks. And given that its dominance is growing, it isn’t going to stop. Of course, there is still a long road ahead. However, we can say that the future seems bright for the block with 1.3% in the pocket and a community more enthusiastic than a trader during a bull run.

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