Main navigation

Bitcoin Surpasses Thai Baht and Russian Ruble, Becoming 14th Biggest Global Currency

News
Fri, 01/08/2021 - 17:50
article image
Alex Dovbnya
Bitcoin has surpassed two major fiat currencies after soaring to $42,000
Bitcoin Surpasses Thai Baht and Russian Ruble, Becoming 14th Biggest Global Currency
Cover image via stock.adobe.com
Read U.TODAY on
Google News

According to data provided by fiatmarketcap.com, Bitcoin is now the 14th currency in the world by outstanding value.  

BTC
Image by fiatmarketcap.com

It has now surpassed the Thai baht and the Russian ruble. Bitcoin would need to surge 68.64 percent more to reach its next target: the Swiss franc.      
At press time, Bitcoin’s market capitalization is sitting at $772 billion after the cryptocurrency touched $42,000 earlier today. 

Bitcoin’s rally has been nothing short of spectacular over the past few months, adding 289 percent.   

Related
Russia May Start Testing Digital Ruble as Early as Next Year: Government Official

Bitcoin is now bigger than Facebook

When compared to publicly-traded companies, Bitcoin is now bigger than Facebook, the largest social media network in the world.

Yesterday, the flagship cryptocurrency also managed to surpass Tesla, but the stock of the leading e-car manufacturer continued to grow with unbridled strength.

Bitcoin is still far smaller than Apple, the largest public company that is valued at $2.22 trillion.

The cryptocurrency also represents only a fraction of gold’s total  $10.6 trillion market cap. 

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.