Last week we wrote about how Bitcoin Now Worth More Than All UK Pound Banknotes & Coins In Circulation.
At the time Bitcoin was worth more than all banknotes and coins of every currency in the world except the US Dollar, Euro, Chinese Yuan, Japanese Yen, and Indian Rupee.
However, since Bitcoin’s price increase above $15,000, it now has a market cap of around $260 billion, or around $10 billion more than the estimated value of all Rupee notes and coins in circulation.
Making it the world’s 5th most valuable currency.
Here are a few other things that have changed since our original report:
- Ethereum remains the 17th most valuable currency, ahead of the Turkish Lira and Singapore Dollar
- Bitcoin Cash (20th most valuable) and IOTA (21st most valuable) are worth more than all Swedish Krona banknotes and coins.
- Ripple (23rd) and Litecoin (24th) are worth more than all South African Rand banknotes and coins.
- Currently 71% of the world’s population live in countries with currencies in circulation worth less than the value of Bitcoin.
|Rank||Currency Name||Value of Banknotes and Coins in Circulation (Billion USD)|
|10||South Korean Won||$74|
|16||Hong Kong Dollar||$48|
|25||South African Rand||$6|
Notes about the data: The data for current cryptocurrency prices and total market cap come from Coinmarketcap.com.
The data for the value of various currencies in circulation comes from the Bank for International Settlements’ Statistics on payment, clearing and settlement systems in the CPMI countries report, published in September 2016. The data is from 2015, so may no longer be 100% correct today. The value for China is an estimate only, and comes from Wikipedia.
It should also be noted that the value of banknotes and coins in circulation is only a small fraction of the total value of a currency. Depending on the country this can the same as the M0 Money Supply.
For more about these measurements you can read our previous report here.