Do you know that using the current rate of bitcoin against the USA dollar, the smallest denomination of bitcoin, a single Satoshi, is now worth more than some national currencies like:
- Iranian Rial
- Vietnamese Dong
- Indonesian Rupiah
The 1 Satoshi is at USD $0.0000772318 while Iranian Rial is at 0.0000237959 USD, Vietnamese Dong at 0.0000426711 USD and
0.0000700676 USD is for Indonesian Rupiah.
Wow, I have never done my research to this length and it is really good to know that Bitcoin value is better than some country’s value. This may be the reason why some smaller countries are really the ones very friendly to cryptocurrency and adopting it.
Once Bitcoin becomes a global currency in future, it will surely be able to solve some of the challenges that these countries are having with their economy that is making their paper coin valueless, with Bitcoin, they will be used to digital currency which will also give them an idea as how to make their own currency work. Bitcoin being a global currency still doesn’t stop each country from having their own digital currency.