It is a historic milepost bitcoin market capitalization of more than the international monetary fund reserve totaled SDR

It is a historic milepost bitcoin market capitalization of more than the international monetary fund reserve totaled SDR

   

Just a day before, bitcoin market capitalization of $300 billion, exceeding $291 billion IMF SDRs (also known as the “paper gold”) the total amount of the reserve.

The total market value of bitcoin over the total IMF SDRs reserve

In 2017, bitcoin prices increased significantly, an increase of more than all the world currency, stocks and commodities. The current single bitcoin price of more than $18000, the total market value of up to $300 billion, more than $291 billion in IMF SDRs (also known as the “paper gold”) the total amount of the reserve. SDRs first issued in 1969, the use of the Bretton Woods system, according to the International Monetary Fund member states subscribed share allocation, can be used for a Book assets to repay debt, the international monetary fund gap between the governments of member states of the international balance of payments deficit. The value of the dollar, euro, yen and pound renminbi, consisting of a basket of currency reserve decision. The members in the event of the international balance of payments, it is available to other members of the fund designated for foreign exchange, to pay the balance of payments deficit or repayment of IMF loans, can also serve as an international reserve and gold and convertible currencies, each unit of the SDR is equivalent to 0.8 grams of gold.

Due to the decline in the economy, the currency from $this year to enhance the competitiveness of the SDR

Since the launch date, the International Monetary Fund’s special drawing rights has been controversial. Basically, this is a “basket of currencies” by the international monetary fund allocated to each country, any organization members involved in the transaction market must have the SDR reserves. Many skeptics believe that the International Monetary Fund’s move is to create a “global” world currency “, in order to remain with the central bank as the center of the monetary system. But for the special drawing right, this is an interesting year for the International Monetary Fund said in the summer, the United States is no longer the world’s largest economies, like Germany, Chinese and Russia began independent monetary policy.

Bitcoin black swan event and a transfer of wealth

But now, people all over the world are looking at the growth of another currency bitcoin lightning, and became the “black swan” economy, not issued by any country or company, are not subject to regulatory review. In fact, this to the center of the digital currency from an anonymous creator, is a novel by millions of people to the digital and software code. Bitcoin has become the Internet era of “people’s money”, this technology is in a hitherto unknown way, a lot of wealth transfer to the hands of individuals. Even the International Monetary Fund (ChristineLagarde) President Christina Lagarde also believes that bitcoin will cause massive damage to the existing financial system”.

In 2017, bitcoin market capitalization is beyond a milepost

In fact, since the beginning of 2015, the price of bitcoin has maintained a growth trend in 2015 and 2016, is the world’s best performing currency. By early 2017, bitcoin price of more than $1000, a month after the tremendous growth. In March this year, bitcoin prices more than an ounce of gold spot price is bitcoin history an important milepost. However, compared with 9 trillion of the global gold market, bitcoin market size is still small. However, bitcoin market size is more than many corporate entities and the stock market, such as bitcoin is far greater than the PayPal, IBM, Disney, Ge, McDonald’s and other enterprises, even bigger than the global art market size.

On the other hand, bitcoin is also the birth of the more than 1000 “clone”, to create wealth for the people. If the number of assets and bitcoin market together, the estimated value of more than $500 billion. Bitcoin is not issued by any national or international monetary fund currency, also began to get more and more competitive. In 2017, bitcoin market beyond the international monetary fund reserve totaled SDR, is a historic milepost.

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