Bitcoin capitalization market now moves to IMF reserves with its Special Right of Turn

Bitcoin capitalization market now moves to IMF reserves with its Special Right of Turn

Twenty-four hours ago, the bitcoin decentralized cryptocurrency and its market capitalization of $ 300 billion surpassed the Special Drawing Rights market of the International Monetary Fund (IMF) (SDR $ 291 billion).
Bitcoin's market valuation surpasses that of the IMF with its reserves of special drawing rights

The value of Bitcoin has grown enormously in 2017, surpassing almost all the currencies, stocks and basic products of the world this year. With a global average of more than $ 18,000 per BTC and an increasing market valuation of $ 300 billion, bitcoin has exceeded the IMF's international reserve assets ($ 291 billion). The Special Drawing Rights (SDR) market is composed of a "legal currency basket" of five nation-states. The value of the SDR, also known as SDR or XDR for its acronym in English, is based on a percentage of the Chinese renminbi, the US dollar, the Japanese yen, the euro and the British pound sterling. The SDR was created in 1969 using the Bretton Woods exchange system, and before 1973 it contained the value of 0.8 grams of gold.

The DEG gains traction this year while the US loses ground, and countries are decoupled from the USD

The Special Drawing Rights market of the IMF has always been controversial since the day of its introduction. Basically, the IMF allocates the basket of currencies to the countries and a nation that participates in the exchange market must have reserves. Many skeptics believe that the IMF is creating a "globalist currency unique to the whole world" to continue to maintain the central banking system in power. This year has been an interesting year for the SDR, as the reserve has gained value compared to other currencies of solitary nation-states. The trend has seen a rebound as a few nations have decoupled from the US dollar, as the IMF revealed last summer that the United States was no longer the main economic power. These days, other countries such as Germany, Russia and China are making their own monetary movements.

Bitcoin Black Swan Event and the next transfer of wealth

However, the citizens of the world, those who have no borders, are taking advantage of the rapid growth of another type of currency. Bitcoin has become the black swan's economy resistant to censorship that is not issued by a nation state or a corporation. In fact, the decentralized currency came from an anonymous creator, and is a software made up of digits and codes that millions of people trust. Bitcoin has become a kind of "people's money" linked to the Internet, and technology is transferring a lot of wealth into the hands of people in a way that has not been seen since the oil boom in 1859. Even Christine Lagarde , of the International Monetary Fund, says that bitcoin will cause "massive disruptions" to the existing financial system.

"In many ways, virtual currencies could compete with existing currencies and monetary policy. The best response from central bankers is to continue applying an effective monetary policy, while opening up to new ideas and new demands, as economies evolve, "Lagarde explained in September.

The currency was born in 2009 and bitcoin has advanced a lot since the days when 10,000 BTC was exchanged for two pizzas of Papa Johns in 2010. One year later, the currency reached parity with the US dollar and increased to thirty dollars during its first " bubble". The reason why it was called a bubble is because, shortly after, the markets fell to a minimum of $ 2. For a while, the price remained stable, but slowly increased to reach $ 13 in December 2012. Then, in the spring of 2013, the price jumped to $ 266 and rose to a maximum of $ 1,242 in global exchanges. Again, the rise did not last long, as the price continued to fall all year after the Mt Gox exchange lost 800,000 BTC and declared bankruptcy. That year, economic experts and financial publications called bitcoin the "worst currency of the year".

The value of Bitcoin grows and matures in 2017

In 2015, bitcoin began to increase gradually once again and captured the highest yield currency in 2015 and 2016. After the new year and throughout 2017, bitcoin again exceeded $ 1,000 per BTC. He began his phenomenal rise that has remained constant every month since then. In March 2017, bitcoin advocates thought it was a big event when the decentralized currency surpassed the spot price of a troy ounce of .999 gold. However, even today the capitalization of bitcoin is small compared to the annual valuation of 9 trillions of dollars of the gold market. Even so, bitcoin is larger than many of the capitalizations linked to corporate entities and shares. For example, the market capitalization of bitcoin is greater than that of Paypal, IBM, Disney, General Electric, McDonalds and even the global fine arts market.

Bitcoin has also produced more than 1,000 clones and created numerous ways for people to increase their wealth. With the market capitalizations of all digital assets and bitcoin combined, the global value of cryptocurrency assets is currently more than half a billion US dollars. It is quite worth noting that a currency that has no rules, and that is not issued by the nation states or the IMF, is gaining so much traction. The market capitalization of Bitcoin has surpassed many things and exceed the reserves of SDRs created by globalists and bureaucrats is a milestone for the history books in 2017.