This is a definitely a great news, but we still have a problem, there is still lack of adoption in term of acceptance. If we want to call Bitcoin as a currency and not just merely an investment instrument, we need Bitcoin to be accepted as payment method. If not in a traditional or local store, at the very least for global companies. Currently I can't barely find any store that accept Bitcoin as payment in my area, not even any international brands and companies accept Bitcoin.

Don't get me wrong, I am not trying to be negative in this good news, I just hope that as the value and marketcap of Bitcoin is increasing, the adoption and acceptance of Bitcoin as a currency will also follow. So Bitcoin can fulfill it's original purposes.

source


Maybe you can check on this as well, is Bitcoin not worth the global standard rate, comparing with the other investment asset, it's on of the top rated, alot to discover in bitcoin, if it can covers $1.04 trillion of the total crypto asset of $1.9 trillion.



Additionally you can look on this from above.

The system is decentralized and no one can control it. But right now I see the big whales are still strong enough to move the market. This means that big whale ownership can be a problem. Although I also believe that no one has been able to dominate Bitcoin ownership.  With the crypto industrialization system, it will be easier for Bitcoin to develop. The adoption of large companies, the approval of bitcoin ETFs is very good progress. This means that there is a very fast development in the cryptocurrency industry.

I have a few questions.
How is it measured? Is it by market cap? If it's by market cap, how are the fiat currencies calculated? Because the market cap is the current price of the coin multiplied by the total circulating supply.
So now, what is the price of the dollar?
For example, we know that 1BTC = $51k. If we multiply $51k by the number of Bitcoins in circulation, we'll get Bitcoin's market cap.
Hench my question is, how is the price of a dollar calculated?
I know the circulating supply of a fiat currency may be known but how accurate is it?

Also, if this is ranked using market capitalization, how do we know if Bitcoin adoption is improving? For all we know the same people number of people that have been using Bitcoin may just be demanding more Bitcoin causing the price to increase.

I'd really appreciate it if someone could clear me on this.

Good post, I didn't know Bitcoin is rated 6 among the global currencies if not this post. Bitcoin is rated the 6 because it's decentralized currency and no body have it (we only know the name of who invented it), no body can control it because its decentralized.
The fiat currencies can be manipulated by the government but Bitcoin can't be manipulated because no body can control. It's a decentralized currency. Anyone can use Bitcoin if he/she have Bitcoin knowledge, if you don't have Bitcoin knowledge you start learning about Bitcoin and its decentralized status. Reason to learn Bitcoin before you start investing are to prevent from fraud, learn how to send and how to receive.

It's measured by market cap because from the image they put all the currency in fiat value and the value that's paired with Bitcoin is the market cap of Bitcoin. Bitcoin is going to climb up when we get to the peak of the bull market and I'm happy because it'll make more people to know that Bitcoin is growing stronger that'll make them want to invest in Bitcoin. Fiats value of the dollars was measured by how many dollars is in circulation,, the fed have an account of how many dollars that they're printing. They might be printing non stop but they keep a record and this is how all fiats are getting their market cap. Bitcoin market cap doesn't equal to the adoption rate as many whales can invest into Bitcoin and increasing the market cap without adoption and we might be seeing more of that with Bitcoin ETFs.

How exactly is this "fiat value" measured? Is it measured by gathering the value of all USD banknotes in circulation? The USD and all big fiat currencies aren't just a bunch of banknotes. What about all the fiat currencies that are in the balance sheets of all banks? What about all fiat currencies that are in a digital form, like the money in your Paypal or Cashapp accounts? I think that the USD and EUR are very underestimated by this research. Yes, Bitcoin has a 1 trillion USD market cap, but market capitalization isn't a great tool for measuring the power and influence of any financial asset.

Glad to see that you have shared this information here. But I don’t think Bitcoins will contest in that list for the top position. To be honest many people do not treat bitcoins as a coin also. For them it’s like a digital asset and they are happy with this. It will only compete with other coins if more people use it as a currency rather than keeping it idle. Hence, I am damn sure that Bitcoins might fall in ranks in this ranking. As a Bitcoin investor, it’s alright to see something like this.

This is something that I learned for the first time. But it is good to see Bitcoin placed at number 6 on the capitalization list. It's hard to compete with a thousand years' worth of fiat, but Bitcoin did it. I will not be surprised if we see Bitcoin at the top. But whatever Bitcoin did in a short period of time, it's really amazing. A decentralised cryptocurrency without a guardian fighting with centralised fiat currency. That's a reason why centralised governments don't want to adapt Bitcoin directly. 

This is good news for Bitcoin lovers. Whenever Bitcoin advances in a competition, there is a kind of excitement among fellow Bitcoiners. I am also inspired by the information you have shared. We couldn't have imagined that Bitcoin could create such a position within a few years of Satoshi Nakamoto's discovery of Bitcoin in 2009. The interesting thing is that people's confidence in Bitcoin is increasing as the days passing. Bitcoin has made the highest perceived gain in a short period of time since its discovery.


Image source

Gold is believed to have been used by humans thousands of years ago. It is believed to have been first used around 3,000 BC and is now widely known worldwide. Bitcoin's discovery period is very short compared to gold. In this short span of time Bitcoin has earned its  greatest place among people all over the world. Demand for Bitcoin has increased so much that people are now more comfortable holding Bitcoin than holding gold. In case of gold we know that it has no limited supply but Bitcoin has only 21 million supply. Moreover, with the change of era, the needs of people have also changed. Bitcoin will gain acceptance as a more valuable asset than any other asset in the long run. Your information is a reflection of that prediction.