Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Bitcoin Drops to 9th Position in Global Monetary Base Ranking

Bitcoin Drops to 9th Position in Global Monetary Base Ranking

Kelly Cromley by Kelly Cromley
Jun 1, 2022
in Bitcoin News, Market News, News
Reading Time: 3 mins read
0

Matthew Meinskis has published another update about the global monetary base. Bitcoin was ranked as the ninth biggest base money in the world as of the end of the first quarter of 2022. (including gold and silver). After the third quarter of 2021, bitcoin was the seventh biggest base money in the world, and its price was at an all-time high. This is two positions lower than it was after that quarter. After dropping by around 25 percent from that all-time high by the end of March 2021, a fall back down the list shouldn’t come as much of a surprise. If the price of bitcoin stays over $27,100 between now and June 30, 2022, the emerging asset should continue to maintain its position on these charts at the ninth slot. In the event that it goes lower than that price (as of the day the article was released, which was May 20, 2022), the Australian cuckbuck will take its place.

Bitcoin is in a very strong position when compared to the major basic currencies of the globe, notwithstanding the recent price dips that it has seen. It continues to maintain its position in third place, after the Swiss franc and the British pound. It’s possible that a lot of people will exploit the fact that bitcoin has dropped farther down the list as a “gotcha!” moment to support their preconceived notions that bitcoin will never become the reserve currency of the world. If you take a second look at the chart that is located at the top of this article, you will see that this is not an unusual occurrence for the currency that is expected to become the world’s reserve currency in the future. It quickly ascends the list by many orders of magnitude, but then it levels out for a short while.

If you take a look at the chart that is located above, you will see that the price of bitcoin is just one or two orders of magnitude away from being the most widely used form of base money on the whole globe. It is quickly moving closer and closer to the top five in the pack, which dominates the pareto distribution of global base currencies. An extraterrestrial monetary technology that was introduced to humans a little more than 13 years ago has accomplished something that is really remarkable.

Alternate methods exist for visualizing the changes in magnitude that result from bitcoin transactions. I have no doubt that the term “decoupling” has been brought up in conversation on more than one occasion. Many people believe that there will come a day in the not too distant future when equity markets will “decouple” totally from bitcoin and the cryptocurrency will no longer trade in lockstep with the asset class. The fact of the matter is that bitcoin has been uncoupled from equity markets for some time now.

Yes, bitcoin may be highly correlated to stocks and other assets over a short or medium time horizon; however, as you can see from the chart showing the ratio of BTC to NASDAQ that was shared by Tuur Demeester above, bitcoin makes massive, orders of magnitude jumps in very short periods of time during massive rallies. Since the procedure was first introduced in 2009, it has also maintained the pattern of repeatedly shifting to the right and moving upward.

Narrator: the decoupling started long ago. Most people don't realize it yet. https://t.co/vz1njEAJxS

— Marty Bent (@MartyBent) May 30, 2022


You can anticipate that this trend will continue if there is an increase in the demand for an extremely scarce monetary bearer asset that can be self-custodied with a reasonable amount of ease and that can be transferred and secured by a globally distributed network of nodes running open-source software. If you consider everything that is occurring in the world today, in particular the attempts by governments to restrict liberties as they lose control of the monetary, food, and energy systems, betting that the demand for bitcoin will not only increase but also increase significantly seems like a bet with a very low risk associated with it.

Previous Post

Brazil Unveils Blockchain Network to Track Public Resources

Next Post

IOTA Consumes Just 0.000009% of Annual Energy Consumption of Bitcoin Network

Related Posts

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

by Mostafijur Rahman
Jun 13, 2025
0

Ripple’s vision of replacing or supplementing parts of the legacy SWIFT system is not new—but what if it actually happened...

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

nillion unveils alpha mainnet to advance privacy-centric computing

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025
0

In a significant move toward expanding decentralized infrastructure beyond traditional crypto use cases, Nillion has officially introduced its Enterprise Cluster....

Next Post
IOTA Consumes Just 0.000009% of Annual Energy Consumption of Bitcoin Network

IOTA Consumes Just 0.000009% of Annual Energy Consumption of Bitcoin Network

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
nillion unveils alpha mainnet to advance privacy-centric computing
Market News

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree