Bitcoin conversion is one of the safest ways to move your money over to the internet. Bitcoin is the oldest form of cryptocurrency. It is a decentralized system that has a very transparent set of rules for its users.
In the past, bitcoin became one of the most searched topics around the world. Bitcoin is one of the most volatile cryptocurrencies. Its prices fluctuate dangerously. One day, you will see it skyrocketing, and the other day, it will be at rock bottom. Many people around the world have made big profits from the bitcoin, so some people are still buying it to make profits.
Money Around the world
Money is divided into four types M0, M1, M2, and M3. M0 and M1 are liquid money that can be used in transactions easily, like general currency money and plastic money (ATM). M2 and M3 are more savings accounts, market funds, and time deposits. M2 and M3 are the large deposits of money, and they require a process to convert into liquid money.
The Huge Bitcoin Market Cap
If you know what market cap is, you will instantly know why the market cap of Bitcoin is so huge. You can obtain the market cap of a cryptocurrency by multiplying the number of coins that are currently available in the market to the value or price of the cryptocurrency. Since the price of a currency continues to fluctuate with time, the market cap also keeps going up and down.
The changein the market cap size is significant when it comes to bitcoin because it remains the most volatile crpytocurrency to date. You can look at the past data of Bitcoin’s price movement to realize that this digital coin has moved by 20% in value in the same day. That’s quite unprecedented, but not the most surprising of things when you are talking strictly about the cryptocurrency market.
If you look at the market cap of Bitcoin today, you might be looking at a smaller number when compared to how high the crypto coin has gone in the past. At the time of writing this, the market cap of Bitcoin is a little more than $129 billion with a price point just over $7,175. You will be surprised to know that at one point, bitcoin’s value had reached $17,900. Take out your calculate, do some basic math, and find out what the market cap of this giant crypto coin must have been at that price point.
The general public thinks that the dollar is the king of all currencies, but in today’s world, bitcoin has grown larger than the dollar. All the M1 in the world is worth around 25 trillion us dollars, and all bitcoin money is worth around 45 trillion dollars. This is a clear indication that bitcoin is taking over the world.
Bitcoin is the number one cryptocurrency market place because of its value and liquidity. Bitcoin is the only platform where you can get instant and easy returns, and you can also convert your large invested money into liquid money and also make a profit. It is estimated that in 7-8 years, cryptocurrency will become the only mode exchange around the world.