Dec 10, · After October, liquidity has flooded into Bitcoin funds and out of JPMorgan Says Bitcoin Will Eat Up Gold Market Cap - BtcPro JPMorgan Chase & Co. claims that the growth of cryptocurrency in conventional finance is coming at the cost of gold, according to a Bloomberg Report. Bitcoin Gold is down % in the last 24 hours. The current CoinMarketCap ranking is #85, with a market cap of $,, USD. It has a circulating supply of 17,, BTG coins and a max. supply of 21,, BTG coins. The top exchanges for trading in Bitcoin Gold are currently Binance, Huobi Global, OKEx, bitcoinlife24.de, and HitBTC. Nov 11, · Bitcoin will surpass the market cap of gold and could ultimately be worth $1 million, according to prominent cryptocurrency industry figure Bobby Lee. In .
Bitcoin gold market capitalizationBitcoin Gold (BTG) Reaches Market Cap of $ Million - Transcript Daily
But, it's gold that could still mop the floor with bitcoin if we compare the two based on market cap. According to a report from Thompson Reuters GFMS, it was believed that , tons of gold had either been mined or was still in the ground.
Since there are 32, ounces per ton, we're talking about 5. That's more than times the market cap of bitcoin at its all-time high! It's also worth pointing out that numerous reports exist on the world's total gold supply, and some suggest as much as 2.
Long story short, bitcoin still has a very long way to go to truly catch gold. According to data compiled by SiblisResearch. In fact, the largest U. Through Friday, Aug. Admittedly, nearly all of this cash is being held in overseas markets, because Apple doesn't want to be taxed for the repatriation of this cash.
Would Apple do such a thing? Not a chance. It's focused on returning cash to its shareholders and reinvesting in new technologies. Lastly, let's take a look at how bitcoin stacks up next to the currency it'd ultimately like to make go extinct -- the U.
According to figures from the St. The monetary base has increased more than fourfold from the Great Recession, and it's currently about 55 times larger than that of bitcoin, even after bitcoin's enormous run. Despite its recent strength, this writer continues to believe that avoiding bitcoin is a smart move. Without true fundamentals to analyze, deriving a fair valuation on bitcoin is difficult to ascertain.
We've witnessed numerous assets increase in value like this before throughout history, and practically every one wound up having its bubble burst eventually. My suspicion is bitcoin will be no different, and uninformed investors are going to be taken to the digital woodshed if they aren't careful.
What's more, the lone bitcoin investment option in the stock market is grossly overvalued. What Europeans call current accounts. It excludes less liquid, broad money, notably money held in time-deposits savings accounts.
Bitcoin Money Supply was 41 in global rank on 1 Jan Now USD M1 changes over time. Usually, it grows — much more quickly than the supply of Bitcoin measured in BTC — and, very rarely, decreases. The MS for Bitcoin presently is It will rise to a maximum of 21 million.
You know the story, the best-performing currency in , , , , A Reserve Currency is a one that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. Reserve Currencies are normally considered to be hard or safe-haven currencies. Source: IMF. MS of Bitcoins vs. Plus Gold, CNY. EUR excluded. That could happen in the next one or two years.
This is important — status as a Reserve Currency creates a significant additional demand for that currency independent of other sources of demand, such as for payment and for investment. So if the Pound Sterling was not a Reserve Currency, for example, its international buying power would be much weaker.
Plud, Gold, China, Bitcoin. Can bitcoin reach world reserve currency scale? Finally, it is evident from the MS table that something very interesting is happening in Switzerland. They love cash. UK population 64 m. So, the Swiss Government enables its citizens to hold cash.
Tyler encouraged people to educate themselves about the potentials and opportunities that bitcoin offers , saying:. Your email address will not be published. Registered UK company no. For advertising inquiries please reach us via email hello fxtimes. Note that the content on this site should not be considered investment advice.
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