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China's Yuan has a market cap of 1.4 billion BTC; What about USD? – Finbold – Finance in Bold

Bitcoin (BTC) can be used as a medium of exchange (MoE), store of value (SoV), and even as a unit of account (UoA), considering the three main use cases of money. In the latter case, he could price a variety of things with his BTC, such as the price of an iPhone 15 or the market capitalization of fiat currencies around the world.

Interestingly, cryptocurrency service providers are already using Bitcoin as a unit of account to price other assets.

In this context, coin market cap teeth compare Bitcoin market value calculated in BTC with the market capitalization of some major fiat currencies. To do so, the crypto platform multiplies the current price of a particular fiat currency by the available circulating supply of this currency, which is usually reported by the respective central bank.

In particular, the market capitalization of the top 20 fiat currencies exceeds Bitcoin’s current circulating supply of 19.51 million BTC, and the closest one to Bitcoin is the Vietnamese Dong (VND) with a market capitalization of 20,875,201 BTC. The top 20 are as follows.

  1. Chinese Yuan (CNY)
  2. United States dollar (USD)
  3. Euro (EUR)
  4. Japanese Yen(JPY)
  5. British pound (GBP)
  6. Korean won (KRW)
  7. Indian rupee (INR)
  8. Canadian dollar (CAD)
  9. Hong Kong dollar (HKD)
  10. Brazilian Real (BRL)
  11. New Taiwan dollar (TWD)
  12. Australian dollar (AUD)
  13. Swiss Franc (CHF)
  14. Russian ruble (RUB)
  15. Mexican Peso(MXN)
  16. Saudi riyal (SAR)
  17. Thai baht (THB)
  18. United Arab Emirates dirham (AED)
  19. Singapore dollar (SGD)
  20. Vietnamese Dong (VND)

CYN and USD market capitalization measured in Bitcoin

On the other hand, the top fiat currency by market capitalization is the Chinese Yuan (CNY). The price of the Chinese Yuan is 497 Sat, the circulating supply is 286.93 trillion yuan, and the market capitalization is more than 1.42 billion BTC, which is 72 times more than the major cryptocurrencies.

Compare Bitcoin and the largest fiat currencies by market capitalization. sauce: coin market cap

Moreover, the US dollar (USD) is a close second to the renminbi, with a market capitalization of 1.26 billion BTC, which is 64 times greater than Bitcoin’s total supply and market capitalization.

It is important to note that the circulating supply of US dollars is significantly less than the world leader, which is estimated at US$35.24 trillion. As of this writing, the trading price of BTC is 3,580 sats per dollar, thus reaching the market capitalization of BTC.

Furthermore, the market capitalization of the euro is nearly 560 million BTC, the market capitalization of the Japanese yen is just over 380 million BTC, and the pound is in fifth place with a market capitalization of 155 million BTC.

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