The total amount of money in the world is $ 84 trillion. But that also includes money in the bank. In physical coins and banknotes, the total global money supply is only $ 31 trillion. Hence the rise of Bitcoin and other cryptocurrencies.
Bitcoin is the cryptocurrency that refuses to die. Its demise has been predicted several times, and one expert calculated that its value is 18 times more volatile than the US dollar. But virtual money is getting stronger.
Last year bitcoin became more stable than gold, and earlier this year the price of one bitcoin surpassed that of an ounce of gold for the first time.
Currently, all bitcoins around the world are worth $ 41 billion. If that amount is hard to pin down, just think of it as a Larry Page – because $ 41 billion also happens to be the net worth of the man who co-founded Google with Sergey Brin.
Dear Reader,
Business Standard has always endeavored to provide updated information and commentary on developments that are of interest to you and have far-reaching political and economic implications for the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our determination and commitment to these ideals. Even in these troubled times resulting from Covid-19, we continue to strive to keep you updated with credible news, authoritative views, and concise comments on current affairs.
However, we have a request.
In the fight against the economic effects of the pandemic, we need your support even more so that we can continue to offer you high-quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are dedicated.
Support quality journalism and Subscribe to Business Standard.
Digital editor
Comments are closed.