Bitcoin remained steady throughout the weekend and is on the verge of reaching its all-time high value of $68,991, with a current value of $66,579 at the time of writing. This brings Bitcoin‘s total market value to $1.31 trillion, which is about a billion dollars more than the total circulating Swiss Francs. In fact, if Bitcoin were a legal tender, it would be the 13th largest currency in the world by market value.
Intriguing Data About Bitcoin
As of this writing, there are 19,644,462 Bitcoins in circulation, and the total supply of Bitcoin is only 21 million. Predicting the future price of Bitcoin is impossible, but by taking a snapshot of where it is today, hovering around its previous all-time high, we can put Bitcoin’s total global impact into perspective.
There was even a time when 10,000 Bitcoins were traded for just a few pizzas. Today, a single Bitcoin could buy approximately 1,000 shares of Papa John’s, the fourth-largest pizza chain by market value, where Laszlo Hanyecz got his famous pizzas. An investor with 10,000 Bitcoins in their portfolio would have about $666.4 million at current market value, technically having more global purchasing power than 97 countries.
This means there are only 12 fiat currencies with enough circulation to buy all existing Bitcoins. The Chinese yuan leads the world with a market value equivalent to 620,521,346 Bitcoins, followed by the US dollar with a circulation supply worth 597,177,334 Bitcoins.
After that, the numbers change rapidly, and the euro’s total market value is only equivalent to 242 million Bitcoins. By the time you reach the 12th spot on the list, you’ll see the New Taiwan Dollar, which has a total market value just above 29 million Bitcoins, slightly ahead of Bitcoin’s own market value.
Bitcoin and Fiat Currencies
For perspective, there are currently about 2.7 trillion Icelandic Krona in circulation. This would be enough to buy approximately 80% of the current DogeCoin supply. On the other hand, if Iceland wanted to convert all its Krona to Bitcoin, it could only lock up about 1.5% of the current total supply.
Taking it a step further, if Bitcoin reaches $100,000 per coin, it would likely settle between 7th and 8th place in the list of most valuable fiat currencies by market value. This would place it between the Indian rupee and the Canadian dollar.
If Bitcoin reached a market value of one million dollars per coin, its market cap would be just under $21 trillion. At this hypothetical threshold, Bitcoin would be more valuable than all other fiat currencies except for the yuan and the US dollar.
