Cryptocurrencies are now worth more than all U.S. dollars in circulation.https://t.co/bpoOGpc3km pic.twitter.com/jexWohagHp
— Christopher Mims (@mims) May 8, 2021
The Byte: Cryptocurrency Is Now Worth More Than All US Currency in Circulation
Experts warn it could be signs of a bubble. Cryptocurrency has hit a significant milestone: It’s now worth more than all US dollars currently in circulation.
Cryptocurrencies hit a valuation of $2 trillion on April 29, according to The Wall Street Journal. That’s about the same valuation as all US dollars in circulation. However, it has since hit as high as $2.25 trillion — and in the process actually exceeding dollars in circulation.
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WNU Editor: This stat only refers to physical cash and coins. Most US cash is stored electronically. But this is just more proof that cryptocurrencies are gaining in popularity.
Cryptocurrencies have to thanks the Central banks of Europe and US for their huge printing money. Confidence on Euro and US$ is shrinking, so the money go somewhere else.
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ReplyDeleteToo many people with too many stimulus outlays. Too many of them are young.