The news that Bitcoin’s total market cap had briefly exceeded that of the Swiss franc last week took me by surprise.
I support Bitcoin for three reasons. Firstly, it’s so hard to distinguish what part of traditional asset class prices are based on fundamentals, and what part decided by central bank or government. So I don’t think the fact that it is hard to establish an intrinsic value is a deterrent, anymore.
Secondly - inflation - there is a limited supply.
But thirdly, it’s nice to own an asset that can’t be taken from you, unless you agree. Or are hacked, of course.
So, what do you think? CHF-BTC at 100k by December?
The Swiss Franc (CHF) is worth 18,826,374 BTC in market cap at the time of writing, a little less than Bitcoin. At the time of writing, Bitcoin has surpassed the Swiss Franc (CHF in market capitalization as the world’s thirteenth largest currency, according to data from Fiatmarketcap.com. There are only 12 world currencies left for Bitcoin to overcome.
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