Bitcoin remained stable over the weekend and currently has a value of $66,500, inching closer to its all-time high of $68,991. This puts Bitcoin’s total market value at $1.31 trillion, surpassing the amount of Swiss francs in circulation. If Bitcoin were a fiat currency, it would rank as the 13th largest in the world.
As of now, there are approximately 19,644,462 BTC in circulation, nearing its technical limit of 21 million. However, due to mining rewards, it is unlikely to reach full circulation. While it’s impossible to predict Bitcoin’s future price, its current position near its previous all-time high highlights its global impact.
In the past, 10,000 BTC could buy a few pizzas, but today, a single Bitcoin could purchase close to 1,000 shares in Papa John’s, a leading pizza chain. Laszlo Hanyecz famously used Bitcoin to buy pizzas. Holding 10,000 BTC would equate to a portfolio value of around $666.4 million, giving it more purchasing power than 97 countries.
Only 12 fiat currencies have a circulation value high enough to buy all the available Bitcoin. China’s yuan leads with a market cap of 620,521,346 BTC, followed closely by the U.S. dollar with 597,177,334 BTC. The euro ranks at spot No. 12 with a market cap of approximately 242 million BTC, just ahead of Bitcoin’s own market cap. The New Taiwan dollar ranks slightly above Bitcoin, with a circulation value of over 29 million BTC.
To provide perspective, there are around 2.7 trillion Icelandic krona in circulation, which is enough to buy about 80% of the existing supply of Dogecoin worldwide. However, if Iceland converted all its krona into Bitcoin, it would only account for about 1.5% of the total supply.
If Bitcoin were to reach $100,000 per coin, it would likely rank between the seventh and eighth most valuable fiat currencies by market cap. At $1 million per coin, Bitcoin’s market cap would exceed $21 trillion, surpassing all other fiat currencies except the yuan and U.S. dollar.