According to a report, Bitcoin, the crypto-currency, now worth more than all United Kingdome Pound banknotes and coins in circulation. Other key findings in the report are as follow…
1. Current value of all Bitcoins ($180 billion) is greater than the value of all banknotes and coin of most other countries / currencies including the UK ($103 billion), Canada ($59 billion) or Australia ($55 billion). This makes it the world's 6th most valuable currency based on the amount in circulation.
2. Currently 54% of the world’s population lives in countries with currencies in circulation worth less than the value of Bitcoin.
3. If the price of Bitcoin rises to $15,000 it will overtake the value of all Indian Rupee banknotes and coins in circulation to become the 5th most valuable currency. Which given it’s recent growth rate it could do within the next month.
4. However, Bitcoin’s price needs to increase to a staggering $72,300 to overtake the Euro and become the 2nd most value currency.
5. And to beat the US Dollar, in terms of circulation value, it would need to increase in price to at least $85,160.
6. Bitcoin is the only crypto-currency in the top 10 currencies worldwide, but both Ethereum and Bitcoin Cash are in the top 20.
7. At a price of $458.82 the total market cap of Ethereum stands at $44 billion, making it the 17th most valuable currency, worth more than the value of all banknotes and coins in circulation of countries such as Turkey ($36 billion) and Singapore ($27 billion).
8. Bitcoin Cash’s current price of $1,425.21 gives it a market cap of $24 billion, making it the 20th most valuable currency, worth more than all Swedish Krona ($9 billion) or South African rand ($6 billion) banknotes and coins.
9. Ripple just misses the Top 20 with a value of $10 billion, but still puts it ahead of Krona or Rand.