Bitcoin (BTC) – the world’s largest digital currency by market capitalization – has grown leaps and bounds in the past couple of years. It is now bigger than most powerful nations’ monetary bases. It has become the 11th largest currency on earth. It is therefore clear that the top-ranking cryptocurrency has the potential to become a global currency. Monetary base According to the US Federal Reserve, the monetary base is defined as “the sum of currency in circulation and reserve balances – deposits held by banks and other depository institutions in their accounts.” With a market cap of only $200 billion, BTC is now ... (full story)