Bitcoin is Now Larger Than Most Fiat Currencies in Europe & Americas in Market Cap – cryptocoins news

The user base and market cap of bitcoin are larger than most fiat currencies of small countries in Central America, Africa and Europe. The next step for bitcoin is to surpass the market cap of reserve currencies, to establish itself as the global currency used by mainstream users and general consumers.

The truth is, bitcoin as a technology is not capable of surpassing the value or user base of reserve currencies as of yet. Various scaling issues have to be addressed and solutions must be implemented. One of these solutions is Bitcoin Core’s Segregated Witness. If both the on-chain capacity and two-layer solutions of bitcoin are expanded and improved, bitcoin will be able to compete with larger fiat and reserve currencies of the world.

Still, the bitcoin network has demonstrated a significant rate of growth in terms of market cap and user base. Most notably, Blockchain, a popular bitcoin wallet platform, recorded over 6 million new users in the past 12 months. Other competing wallet platforms such as Coinbase have also shown a rapid growth rate, with the Coinbase wallet platform serving over 6 million users.

Source: Bitcoin is Now Larger Than Most Fiat Currencies in Europe & Americas in Market Cap – cryptocoins news

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s