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At the time of writing, (4 Jan 2018) the total value of the cryptocurrency market was roughly $759 billion, according to coinmarketcap.com.
While this is still far less than the total value of all mined gold on earth, estimated to be worth around $7.5 trillion, it is far more than the reserves of any single country’s Central Bank.
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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:
Full Data:
| Rank | Currency Name | Value of Banknotes and Coins in Circulation (Billion USD) |
|---|---|---|
| 1 | US Dollar | $1,424 |
| 2 | Euro | $1,210 |
| 3 | Chinese Yuan | $1,000 |
| 4 | Japanese Yen | $856 |
| 5 | Bitcoin | $260 |
| 6 | Indian Rupee | $250 |
| 7 | Russian Ruble | $117 |
| 8 | Pound Sterling | $103 |
| 9 | Swiss Franc | $76 |
| 10 | South Korean Won | $74 |
| 11 | Mexican Peso | $72 |
| 12 | Canadian Dollar | $59 |
| 13 | Brazilian Real | $58 |
| 14 | Australian Dollar | $55 |
| 15 | Saudi Riyal | $53 |
| 16 | Hong Kong Dollar | $48 |
| 17 | Ethereum | $43 |
| 18 | Turkish Lira | $36 |
| 19 | Singapore Dollar | $27 |
| 20 | Bitcoin Cash | $22 |
| 21 | IOTA | $11 |
| 22 | Swedish Krona | $9 |
| 23 | Ripple | $9 |
| 24 | Litecoin | $8 |
| 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.
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The chart above shows the value of various world currencies based the value of notes and coins in circulation.
Please note: This has been updated here.
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