Bitcoin BIGGER than Russia!!! The 8th Largest World Currency!!!! + $70 Giveaway
Today we have a few pretty fantastic news items to share with you. So what are they? First up, how big do you think Bitcoin is? At $8,940, it’s now bigger than Russia’s monetary base. Next, Russia is going to legalize digital assets in two weeks, but they won’t include Facebook’s Libra. And finally, in order to enhance its blockchain infrastructure, ICON is going to partner with Infinity Stones.
If you want to hear all about this news, please make sure you stay with me till the end of today’s video. Guys, this week, we are also announcing a super cool giveaway. If you like, comment, and subscribe, you could go in the draw to win $70 in Bitcoin. We will be announcing who the winner is this Saturday. We will draw a video from this week, and then draw a winner from the video. Good luck you guys all! And if you want to go in the draw to win, and you love our content, make sure you hit the like, and subscribe button and just comment down below.
The Market Today
Now, let’s see how the crypto market is performing. As you guys can see it’s a bullish market today for the top 10. We have Bitcoin still in first place with a 1.6% increase. Then we have Ethereum rising by 1.1%, and then Ripple’s XRP token, going up by 1.54%. Now if we look at the top 20, you can see a mix of greens and reds here. While Dash and Monero are gaining by 2.04% and 3.41%, Tezos witnesses a 2.62% decline.
Bitcoin Surpasses Russia’s Monetary Base and Became the 8th Largest Currency in the World
First up, according to Bitcoinist.com, at the price of $8,940, Bitcoin surpasses Russia’s monetary base and became the 8th largest currency in the world. So, quick and fun question guys, which countries do you think have the largest monetary base? With its $25 billion dollar debt, it’s no surprise that despite being the world’s largest economy, the U.S. lags in fourth place behind Japan, China, and the Euro Zone when it comes to base money. Coming back to Bitcoin, with a market cap currently at $162 billion and with some analysts predicting a BTC value of over $40k by the end of 2019, after just 10 years of its creation, this is definitely a pretty big deal indeed. As you all noticed, in the past few days, there is a rise in cryptocurrency adoption around the globe. I believe It won’t be long before Bitcoin becomes big enough to overtake the monetary base of India, Switzerland, the UK, and, yes, the United States as well.
Russia To Legalize Digital Assets
Now moving on, as you guys can see here on Beincrypto, Russia has announced that it would make some digital assets legal. However, Facebook’s Libra is not going to be included in this scheme. This process is expected to be done within just 2 weeks. The Deputy Finance Minister of Russia, Alexei Moiseev said in a recent interview:
We discussed the bill and agreed on the final version of the text during a meeting last week. Fundamentally, everything is settled now. We are making the final revisions, and, hopefully, we’ll be ready to adopt it in the second reading within two weeks.
What about the attitude of Russian authorities towards Facebook’s Libra currency? They joined the chorus of the political elite around the globe expressing a fierce criticism against it. Russia has no plans to legalize cryptocurrency instruments based on blockchains like Libra as it may threaten the national financial system. Anatoliy Aksakov, chairman of the financial market committee of the lower chamber of the parliament, added:
If someone wants to purchase these instruments from platforms that operate under foreign jurisdictions, they may do it at their own peril.
ICON Partners With Blockchain Infinity Stones
And finally, the last news item for today. Per a report on CryptoNinjas, ICON, the Korean originated blockchain network, announced that it has partnered with blockchain Infinity Stones, an infrastructure company, to provide insight into the governance and economic structure of ICON. Through this agreement, ICON can leverage the relationships Infinity Stones has built, as well as their experience running nodes on other blockchain networks such as EOS, Tron, IoTeX, Tezos, Cosmos, etc.
So guys, what are your thoughts on these news situations?
How do you feel knowing that Bitcoin is now bigger than Russia’s monetary base?
Do you believe that it will surpass other currencies in the near future?
Do you think that ignoring Libra is a good decision?
And how about the partnership of ICON and Infinity Stone? Will it really help ICON?
Let me know what you guys think in the comments below!
Once again, please don’t forget to like, comment and subscribe to go in the draw to win $70 in Bitcoin. It’s Cindy with CryptoPig. I’ll see you guys tomorrow!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.