Sterling fell 2.5% overnight

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


Interesting stuff happening across the pond. I did some math; looks like the pound's M2 (money supply) is 1.6T, conversion rate to dollars is 1.26; so about $2.0T.

Overnight the currency dropped 2.5%, and although it eventually came back a bit, that represents a drop of $50B due to uncertainty over leadership.

$50B is a huge swing, greater than the market cap for all bitcoins. Give it a decade or so to grow… if it reaches the size of GBP (and that's and huge if) it won't be so volatile anymore, taking away a large criticism most have of it.

submitted by /u/sjarosz5
[link] [comments]

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


Leave a Reply