In the real money supply under the global currency bitcoin ranked thirty-second
Block chain security company BitGo chief developer JamesonLopp calculates the bitcoin circulation value ranks thirty-second in the world. He created a clone of the money supply M1 polymerization index, similar to this, before it will bitcoin in Singapore and South Africa, after Finland and the United Arab emirates.
By cloning to create a global M1 index, which is calculated a physical currency national money supply index, including notes and coins and check the account value, Lopp calculates the bitcoin will reached a high level.
For narrow money valuation
In the index, the narrow money is used as a measure of monetary value index. Narrow money of a country is the essence of each of the existing currency, taking into account all the notes and coins, or even storing digital currency in a bank account in. The central bank’s holdings of liquid assets were taken into account.
Using this index, and the value of bitcoins in circulation, Lopp in the calculation of bitcoin market capitalization of $122 billion 406 million 125 thousand and 890. However, with the changes, only in the past three days, bitcoin prices as high as $125 billion, which would make it the ranking to thirty-first place, before Finland.
Bitcoin prices continue to soar, recently hit $7500. The overall market value of the market also soared, and the dominant position of more than 60% of the money market rule encryption.
The price of bitcoin and its market value is the key factor to determine its overall value, but like Lopp to create such a measure to promote digital currency influence and growth.
Further the use of
Because the boundaries of bitcoin across between money and assets, so it is difficult to classify. However, these two categories are helping across different lines.
Recently, the world’s largest exchange group owner CME decided to launch the bitcoin futures at the end of this year, to help the value of bitcoin soared, because the more traditional investors found an opportunity.
However, liquidity is the essence of it also allows it to be considered a form of money, it can be comparable with other countries and their currencies.
Trillion mark magic
It is estimated that the encryption money market in 2018 may exceed $1 trillion, but due to the dominance of bitcoin, much of the impetus will be from the original encryption currency.
In addition, many people believe that bitcoin market growth rate is impressive, from less than $20 billion in January 1st to $20 billion 100 million in November 5th, but only $1 trillion, it will become a major participant.
Bitcoin $1 trillion market capitalization ranked eighth, ranked in Spain before Italy, the lowest ranked countries have $1 trillion special funds.