[2017-12-15] Bitcoin’s Market Cap Surpasses the IMF’s SDR Reserves

[Iloveelvis]

Twenty-four hours ago the decentralized cryptocurrency bitcoin and its US$300Bn market capitalization just surpassed the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $291Bn).

Bitcoin’s value has grown immensely in 2017 outperforming nearly every world currency, stock, and commodity this year. With a global average of over $18,000 per BTC and a $300Bn+ market valuation bitcoin has surpassed the IMF’s international reserve assets ($291Bn). The SDR is comprised of a ‘basket of legal tender’ from five nation-states. The value of the SDR, also known as XDRs, is based off a percentage of Chinese renminbi, U.S. dollar, the Japanese yen, the euro, and the British pound sterling. The SDR was created in 1969 using the Bretton Woods exchange system, and before 1973 it contained the value of 0.8 grams of gold.

Read More Here>>>   https://news.bitcoin.com/bitcoins-market-cap-surpasses-the-imfs-special-drawing-rights-reserves/

[darkangel11]

Time to add BTC into the list of world reserve currencies But wait, some people are arguing that a cryptocurrency is not a currency, probably because it's not artificially inflated like the rest of them and not losing value every year. Seeing it surpass every currency and become the most valuable exchange token in the world would be a wake up call for the whole world. That is of course if this piece of news isn't already.

[Samarkand]

Saifedean Ammous has predicted that Bitcoin will surpass the SDR Reserves of the IMF
months ago. Finally, his prediction has come true.

I strongly advise anyone to follow him on Twitter and to buy his upcoming book:
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861/ref=sr_1_1?ie=UTF8&qid=1513454251&sr=8-1&keywords=The+Bitcoin+Standard%3A+The+Decentralized+Alternative+to+Central+Banking

He also predicted rightly that Bitcoin´s best use case isn´t micropayments (just look at the current fees), but instead
to become a global settlement currency for settlement between financial institutions. Surpassing the
IMF´s SDR reserves was just another intermediary step in this process.

I´m really excited for the near future.

[Carlton Banks]

IM-what? Who are these people supposed to be?