Believe it or not, but the smallest denomination of Bitcoin is now more expensive than a national currency of several countries. And this despite the fact that currently the biggest cryptocurrency is 40 percent less than its historical maximum. In the network there are arguments regarding the intrinsic value of Bitcoin. Known capturador Rhythm expressed an interesting point of view in discussions.
He drew the community’s attention to the fact that the smallest particle of Bitcoin – 0,00000001 BTC or so-called one Satoshi – cost walked for at least 7 of national currencies.
At the moment, the cheaper one Satoshi appreciated Iran Rial, Vietnamese Dong, Indonesian rupiah, Guinea franc, Sierra Leone Leone Lao Kip and Uzbekistani som.
It should be noted, a month and a half ago one Satoshi passed on the values of national currencies are only 3 countries: Iran, Vietnam and Indonesia. Now the list has grown significantly and maybe this is just the beginning.
Bitcoin has overtaken Canada in the monetary base
In addition, not long ago, Bitcoin was ranked eighth in the world in monetary base, beating the Russian ruble. User under the name Crypto Voices even published an informative chart, where the countries with the largest monetary base are Japan, China, USA, UK, Switzerland, India, Russia, and countries belonging to the Eurozone.
Global Base Money UPDATE: @$8,940, #bitcoin is larger than South Korea’s monetary base (2019 Q1 won value). This means Bitcoin‘s monetary system is now the *9th* largest currency in the world, #11 if you count gold & silver. Full update will follow in CV 2019 Q2 update. pic.twitter.com/uOurAwuTzm
— Crypto Voices (@crypto_voices) June 18, 2019
Under the current capitalization of 215 billion dollars in the Bitcoin monetary base bypasses Canada, Brazil, Australia, Mexico and Sweden. Here it is necessary to consider that the term monetary base are not taken into account the gold reserves of countries. We are talking only about the currency in circulation or deposits of Central banks.
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