Bitcoin Overtakes the Base Money Supply of United Kingdom and Russia Combined

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Bitcoin is now more liquid than the cash supply of a global reserve currency, the Great British Pound (GBP). According to the Bank of England, there are 88 billion GBP in M0 circulation, translating to $116 billion. Bitcoin’s market cap has increased to $287 billion. Meaning the digital cash is now a lot more liquid than the paper money of a top global reserve currency. M0 is the reserve currency or the base money upon which everything else settles. It’s the banknotes in your pocket, and for the United Kingdom somewhat unusually there aren’t many of them. While the United States has $100 bills and the euro had even €500 bills, the British Pound stops at £20 banknotes. So it’s not physically hoarded as much as other currencies, but when we get to M1 supply, which includes bank deposits – as in digital fiat – then this increases to £2…

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