$18K Bitcoin price, eh? BTC market cap may pass Canada's monetary base – Investing.com

$18K Bitcoin price, eh? BTC market cap may pass Canada’s monetary base

As (BTC) blasted through the $14,000 level its market capitalization surpassed the monetary base of the Russian ruble. This measure includes both physical currency and bank reserves, both of which are usually held by a country’s central banks.

Bitcoin market price inferred to match top global monetary bases. Source: Crypto Voices

The above chart may seem complicated at first glance, but it simply compares gold, silver, Bitcoin, and the remaining global monetary bases. We can see that the U.S. has $4.9 trillion physical notes, coins, and bank deposits parked at the Federal Reserve. By dividing this number by the current 18.5 million outstanding BTC, we reach the $263K stated above.

Fiat base money supply. Source: Crypto Voices