dhanson865
Well-Known Member
Is it correct to assume that, the higher Bitcoin goes, the weaker the dollar will get? Because you could see Bitcoin as a vacuumcleaner that sucks up all the dollars that the printing presses are spitting out? Hence undoing the quantitative easing? Inflation as a result?
US Money's take Here's a comparison of bitcoin and all of the world's money (old data adjust the bitcoin ball from 41 to 287 and all crypto from 100 to about 320)
I'll say
$287,106,082,039 Bitcoin market cap
$1,590,000,000,000 US Dollar The Fed - FAQs
$85,000,000,000,000 total money/stocks in the world?
97.48% of the USD is in Federal Reserve notes not dollar bills but still most bitcoin is digital not physical so it fair to include. With that in mind there is 5.5 times as much USD as Bitcoin USD value. And since USD themselves are only 2% of the world money/stocks I'd guess that the amount of BTC vs USD isn't that big a deal.
It could be that BTC market cap exceeds USD in circulation but since people don't pump dollars into bitcoin as much as it is inflated, mined, or used to buy goods I'd say it isn't pulling dollars out of the money supply. Besides, whoever you give USD to when buying a Bitcoin or a portion of one, that person will still have USD that they will then spend.