{"id":567065,"date":"2023-12-27T10:00:07","date_gmt":"2023-12-27T10:00:07","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567065"},"modified":"2024-06-11T10:38:56","modified_gmt":"2024-06-11T10:38:56","slug":"bitcoin-grabs-13th-spot-as-worlds-most-valued-currency-latest-data-show","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-grabs-13th-spot-as-worlds-most-valued-currency-latest-data-show\/","title":{"rendered":"Bitcoin Grabs 14th Spot As World’s Most Valued Currency, Latest Data Show"},"content":{"rendered":"
In a groundbreaking financial shift, Bitcoin, the world’s original and deeply capitalized cryptocurrency, has swiftly climbed the ranks, securing its place among the top 15 largest currencies globally. Bold, a Bitcoin credit card company, revealed this remarkable feat in December, emphasizing Bitcoin’s uniqueness as the sole crypto in the top 20 currencies of sovereign central banks.<\/p>\n
Examining the data provided by CEIC and CoinGecko paints a vivid picture of Bitcoin’s extraordinary ascent. On the pivotal date of November 19, Bitcoin’s market capitalization soared to over $835 billion, solidifying its position among the global financial giants.<\/p>\n
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This milestone not only marked a significant leap forward for Bitcoin but also propelled it past India’s rupee, which stood at a little over $693 billion in November.<\/p>\n
The narrative of Bitcoin’s triumph doesn’t stop there. Surpassing national currencies with ease, Bitcoin continued its meteoric rise, outshining even the venerable Swiss Franc.<\/p>\n
By achieving a staggering market capitalization of $830 billion, Bitcoin showcased not only its financial prowess but also its resilience in a landscape often defined by volatility.<\/p>\n
Bold’s list places Bitcoin just behind South Korea’s Won, boasting a market cap of $903 billion. FiatMarketCap, however, positions Bitcoin as the 16th largest currency by market cap when considering all currencies in the list.<\/p>\n
\n#Bitcoin<\/a> is the 14th largest currency in the world. pic.twitter.com\/PvKqvYAtjx<\/a><\/p>\n
\u2014 Bold Bitcoin (@BoldBitcoin) December 20, 2023<\/a><\/p><\/blockquote>\n
The month of December witnessed a palpable surge in Bitcoin’s value, propelled by the heightened anticipation surrounding spot ETFs. This burgeoning excitement not only elevated Bitcoin’s market standing but also facilitated a noteworthy milestone.<\/p>\n
During this period of heightened anticipation, Bitcoin, with unwavering momentum, not only surpassed the valuation of the Swiss Franc but went a step further, closing in on the esteemed South Korean Won.<\/p>\n
The strategic alignment of market forces, coupled with growing investor confidence, played a pivotal role in this achievement, showcasing Bitcoin’s resilience and adaptability in responding to evolving market conditions.<\/p>\n
Bitcoin slides back into the $42K territory. Chart: TradingView.com<\/a><\/pre>\nAt the current trading price of $42,427, Bitcoin<\/a> experienced a slight dip of 0.7% and 1.1% in the last 24 hours and seven days, respectively, according to Coingecko’s data.<\/p>\n
Bitcoin: Challenging Global Currency Norms<\/strong><\/h2>\n
A fascinating perspective emerges when considering Bitcoin’s potential. If its price were to reach over $919, it would exceed the US dollar’s money supply of $18 trillion, establishing itself as the largest global currency.<\/p>\n
Related Reading: Ethereum: Balancing Act At $2,300 \u2013 Scaling The Heights Or Facing A Looming Drop?<\/a><\/div>\n<\/p>\n