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Bitcoin vs Fiat Currency Market Cap

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Ranking of the largest currencies (Fiat Market)

Bitcoin vs major fiat currencies by market capitalization. Higher fiat currency market capitalization on BTC. How do the biggest fiat currencies in the world compare to Bitcoin?

data by FiatMarketCap

What is Fiduciary Currency?

Fiat money came about when governments minted coins of a valuable physical commodity, such as gold or silver, or printed paper money that could be redeemed for a set amount of a physical commodity. Fiat, however, is inconvertible and cannot be redeemed simply because there is no underlying commodity to support it.

As fiat currency is not tied to physical reserves like a national stock of gold or silver, it risks losing value due to inflation or even becoming worthless in the event of hyperinflation. In some of the worst cases of hyperinflation, as in Hungary immediately after World War II, the inflation rate can double in a single day.

Furthermore, if people lose faith in a nation's currency, the money will no longer have any value. This is very different from a gold-backed currency, for example; it has intrinsic value because of the demand for gold in jewelry and decoration, as well as in the manufacture of electronic devices, computers and aerospace vehicles.