Bitcoin Grows Larger Than South Korea’s Monetary Base, Becomes 9th largest Currency In The World

Bitcoin is worth nothing and Backed by Nothing. Really?

Bitcoin is no longer on the fringes.

This is obvious considering the fact that almost every day on the news we often hear the Word Bitcoin several times a day as compared to say the Kardashians for instance.

Also, it might interest you to know that Bitcoin right now in terms of reserves is the World’s eighth largest currency by reserves.

The chart below by crypto voices says it all!

base money


Gold may still be topping the charts when it comes to supply but we all know that supply of Gold is limited and the process of refining it including storage and transportation costs quite a bit and it is also heavily regulated in terms of use and possession.

Bitcoin, on the other hand, is decentralized and not governed by any central Monetary authority and it is quite easy to possess and store (in wallets!).

The case also goes for the other assets and currencies which are covered in the chart. Most global economies are driven by one underlying asset or the other or by services (such as the United Kingdom) or Manufacturing (the case of the Chinese and Japanese economies come to mind).

The core drivers of Bitcoin’s growth are; acceptance, adoption, and usage, Being a dual-purpose asset (both as a currency and a store of value) which hasn’t yet reached major acceptance globally is what shall easily make bitcoin to become the “Gold” of the 21st Century!

We all know how President Putin (tough chap) strongly keeps the Russian economy in the right stead (what’s good for Russia is good for him).

Everything he has done throughout his tenure as Russia’s President (and strongman) is to make sure that the fundamentals of the Russian economy always remain strong despite whatever happens globally.

The Russian economy though is based on oil and gas (for the most part). As such, whatever happens in the petroleum industry must affect Russia. The Ruble is hence limited by these constraints.

Bitcoin, however, is not!

Can you now see why Bitcoin is bigger than Russia (and even Gold!)?

If Bitcoin with its history of being one of the fastest growing assets in terms of value can grow this much and this fast, what’s going to happen in the next half-decade?

Bitcoin is already bigger than Russia!