Cryptocurrency came into existence in 2009, when it was first released on the internet by an unknown group of developers. Ever since the online digital currency and trading platform has seen a significant rise and growth.
Now, the market is filled with hundreds of different crypto providers, where people can make investments. Cryptocurrency or digital currency has a lot of potential to grow into a new revolution, and now owing to this, many world-class companies and MNCs are now investing in the same.
Due to its newness and a somewhat complicated process, many online web pages and guides are now available on the internet. People and investors can use these websites and obtain the useful and required details and information about cryptocurrency. Additionally, many websites also provide users with the current news and information about the various cryptocurrencies and their positions in the market. Users can head to www.androidheadlines.com for more details.
With the recent surge in the number of users of crypto, the stock market has seen a good and promising business in cryptocurrency. The investments of major world leaders in the same have sped up the business and now many common people are also investing in the same. This has generated quite revenue and a lot of the world’s total fortune is currently stacked up in crypto stocks. An analysis of how much of the world’s money is invested in cryptocurrency markets through exchanges like OKX.com right now is given below for your reference.
Cryptocurrency vs Narrow Money
First of all, you might be wondering what narrow money is? Narrow money is nothing but all the real money being held up in the various banks all over the globe. This includes all the money notes, bills, coins, and other less liquid assets. Narrow money contains a major chunk of the world economy, as well as the economy of one country. Statistically, 7% of the world’s total narrow money is currently invested and involved in cryptocurrency.
This totals up to $2.48 trillion
Out of this astonishing number, Bitcoin holds an impressive position, covering more than half of the world’s total crypto assets. Bitcoin currently stands at $1.03 trillion, which is almost 50% of the entire crypto stash combined. Bitcoin has been able to achieve this massive feat because it was probably the very first in the market and laid the foundation for the rest. 1 Bitcoin is currently available at a price of almost $38000, which the users can buy or invest in.
Cryptocurrency vs Gold
This is one of those comparisons that the governments would not like, as both, cryptocurrency and gold are decentralized assets. Decentralized assets are the ones that are free from any external inventions, including that of the government.
Cryptocurrency uses blockchain technology, which makes all its payment processes completely hassle-free and impossible to trace. Blockchain is a relatively newer concept and has the potential to completely revolutionize the world.
Gold, on the other hand, has been a precious metal since time immemorial and has always been considered as one of the best options to make an investment. The prices of gold in the market rarely drop, however, it too, like any other investment made in the stock market, is subjected to the various risks and positioning of the stakes and the conditions of the market.
Currently, on the global level, the worth of all the gold available in the market, at homes, and in the bank lockers add up to a little more than $7.8 trillion. This is almost 3.25 times more than the current availability of all the crypto currencies combined, or more than 7 times than Bitcoin. Both cryptocurrencies and gold are highly valued, and excessively expensive and will continue to be.
Cryptocurrency vs World Giants
The world’s first trillion dollar company, Apple Inc. has more assets than every cryptocurrency combined, by almost $750 billion. The entire marketing cap of Amazon, headed by Jeff Bezos is $858 Billion more than Bitcoin.
Cryptocurrency has a long way to go to compete with these world giants. But it is interesting to note that almost each of these companies have a few shares invested in the crypto stock market, making the game of cryptocurrency stronger than ever before.
Is cryptocurrency worth it?
At this point, you should know the answer to this question by yourself. With the world constantly evolving and developments in various technologies, humans have turned the world into a small community, like an online village, where everyone is connected to everything via the means of the internet.
All these interconnections and technological advancements have impacted almost every aspect of human life. Cryptocurrency is one of them, and has been around for more than decade now. Various crypto platforms, especially Bitcoin and Dogecoin have gained massive popularity when the world was in a joint lockdown owing to the rampant spread of the deadly COVID-19 disease.
Cryptocurrencies are here to stay, at least for as long as the internet stays on. It is an easy way of making money. However, it is also very volatile and is highly risky as well. The total evaluation of money flowing in and out of the crypto chain is quite difficult, as this is constantly changing, with more and more people buying and investing the same. Additionally, blockchain technology promotes complete privacy and is practically impervious by any source.
All this adds up to the difficulties and issues to keep up and maintain records. Cryptocurrency is totally worth it and interested investors should make investments before the prices peak again.
With the whole world looking up to cryptocurrency to make investments in hope of a good return and to get rich, the market is actually subjected to the positioning of the stock market.
All money invested is subjected to the various risks imposed by the stock market, and users can have a few losses down the lane. Investors are advised to invest in various crypto platforms only after thorough research and complete investigation.