Bitcoin has now achieved a market cap (total value of coins in issue) that is greater than the value of currency in issue of 140 countries!

They are wedged between Ecuador and the Ukraine in the table.

Bitcoin has now achieved a market cap (total value of coins in issue) that is greater than the currency in issue of 140 countries!

This fact is even more incredible when you consider it only came into being 8 years ago, and is not backed by any country or central bank.

I think it’s fair to say that some of the popularity reflects people’s lack of faith in the establishment system.

At the end of the day Bitcoin is as much a Ponzi scheme as other currencies, (I.E. is not backed up by anything tangible such as gold), but one major difference is Bitcoin is committed to not producing any more coins, whereas central banks will keep printing money, thus further devaluing their currencies further.