Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights R...

Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights R...

At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion). Since the massive global market rout on March 12, bitcoin has risen over 323% since the crypto asset’s $3,600 low in 2020. The price of bitcoin has increased a great deal in 2020. Especially after the global market crash that wiped out nearly every commodity and stock under the sun. Even then, the price of bitcoin (BTC) had a hard time in mid-March, as prices....


Related News

IMF Senior Economist Sees Bitcoin and Blockchain Helping Banks

The International Monetary Fund (IMF) has published an article in the Finance and Development magazine that looks at how Bitcoin and blockchain technology has the ability to rewrite the financial sector. Written by Andreas Adriano, a senior communications officer in the IMF’s communications department, and Hunter Monroe, a senior economist in the IMF’s monetary and capital markets department, the article, “The Internet of Trust,” [PDF] focuses on the history of Bitcoin, its blockchain technology and how it can be used to benefit the financial sector. When it was first introduced Bitcoin....

Op-Ed: Yuan Internationalization Will Lead to Growth for Bitcoin

On October 1 of this year, the IMF added the Chinese Yuan (CNY) to the Special Drawing Rights basket of currencies. Only Big Boy currencies are included, and now China is part of the club: USD, GBP, JPY, EUR and now CNY make up the basket. The IMF could not ignore the currency of the world’s second largest economy. In order to be considered, China pledged to speed up the internationalization of the CNY. That meant gradually opening up its capital account, and gradually allowing the market to determine the value of the CNY. China isn’t one to follow diktats of foreign countries to the....

Bitcoin’s Market Value Now Exceeds That of Facebook

Bitcoin is currently more valuable than all but six of the world's publicly traded companies.

Bitcoin.com Will Be Hosting Video Soon

Bitcoin.com has been continuing its growth to become the go-to cryptocurrency portal for all things Bitcoin. We’ve introduced an educational section that includes our own Wiki. There’s now a news section and discussion forum as well. Now we are soon offering a video section that will include some partnerships with some of the top price analysis experts....

A World Currency - Not a New Idea

With the rise of Bitcoin and other potential cryptocurrencies that represent mobile money without borders, it may seem like this is a completely new idea. While the technologies being used may be new, the idea of a World Currency has been around for awhile. Discussion of this at the IMF has gone on for years. An example would be this 2009 IMF blog article titled "Reserve Currencies in the Post-Crisis International Monetary System". The article traces the history of the US dollar as a world reserve currency back to the 1944 Bretton Woods Conference. It then proceeds to discuss potential....