M1 Money Supply Arms Race: Bitcoin Overtakes 23 Countries In 2020 Alone

bitcoin market cap cryptocap btc 980x455

2020 will go down in history for various reasons. While the pandemic took center stage, the emergence of Bitcoin, stimulus money, and unprecedented fiat money printing have been critical themes economically. The ballooning effect of national currencies printing fiat money to offset the impact of the pandemic, caused the global M1 money supply to expand exponentially. Despite this, however, Bitcoin’s rank in the total M1 money supply has risen substantially, from rank 34 to 13th place behind Taiwan, Switzerland, and Canada. Here’s why this figure is so important for the future of the first-ever cryptocurrency. Bitcoin M1 Money Supply Nears Top Ten By Nation, US Dollar In Trouble From the destruction of past pandemics and economic collapses, have come some of the greatest changes known to the human race. Often these major life events bring about the emergence of technologies that forever change the world. The same could be happening…

Read the original article here