Topic: Bitcoin is now the 6th largest world currency (Read 843 times)

Bitcoin cannot actually be split.I think Bitcoin is the No. 1 virtual currency.I don't think it's comparable to anything else for that.At present it is acting as a medium of exchange instead of money in many countries. And many banks are trying to recognize it as a medium of exchange.

Well, at the right time we will see that bitcoin will become second placer or top among national currency. I don't know how the data has been collected because bitcoin start at an early stage just like 13 years ago while fiat currency was there for how many years.
Well, you have a point that bitcoin future has a potential that becomes the best alternative to any digital currency, --but I don't think so if bitcoin will replace fiat, that is another story here. As of now, let us help bitcoin will increase more than we expected and will increase the ratings of the largest currency on earth.

I’m not sure if these statistics is absolutely correct but it’s will be super cool if bitcoin gets that global value in term of purchasing power.

Even though Bitcoin has a completely different system from fiat money, it is so fascinating to see that Bitcoin continues to grow bigger and bigger every year. It is still the biggest cryptocurrency in the market and I wonder when this will change.

Bitcoin can't be classified with fiat currencies. Bitcoin is the top of virtual currencies over the years. From the view point of value, Bitcoin is now 6th largest coins in the world either fiat and virtual currencies. You know Bitcoin can't be converted into cash legal way in most of the countries but your data is impressive to me.

This is the 13th year of bitcoin existence and it's on the 6th position of world currency. What happens next when the whole world accepts it as a currency? That's to say other top currency won't see her back.
Bitcoin future is ever greenish for us all

Never said they're the same thing although they have a lot of similarities which one is, they are currently the only real assets that can be valued as a currency. Before fiat was introduced gold was the general standard. It was a gobal currency used for exchanges of goods and payment for services. You saying good was never told s currency is wrong. Don't forget gold was more demand f a currency than what bitcoin is right now. Bitcoin is like the best version of gold and with it's decentralized advantage it can be said to be the best any currency can ever get.

Before now we all know the USD was backed by Gold, but the corruption and greediness of our politicians to create more note made the fiat to lose its focus and now a piece of worthless papper been given value because the government says so.

It'd be interesting if the top 100, top 1,000 crypto are tallied up and compared to the leading world fiat to compare apples and oranges.  It'd make more sense to compare the volume of trades that occur in crypto Vs fiat as opposed to a perceived market cap.

Of course! The value of an asset is determined by its demand in the market. The more people learn about bitcoin and cryptocurrency, the greater the liquidity and, accordingly, the cost. It is worth noting that bitcoin is only gaining liquidity every year and even major reputation losses like fraudulent schemes do not allow it to sink for a very long time. This only tells us that everything will be fine.

Wow, what a wonderful news that we can see bitcoin rank #6 as the largest world currency and this data also shows the capability for bitcoin to overtake those currencies in the near future.

And once it will happen, bitcoin will surely to fully replace fiat someday. I am really excited when the time will come where we can see that bitcoin will be on top as the largest
world currency.

Before comparing BitcoinBTC to the all other stocks and currencies you should check since how long these are being traded in the markets. Even after ten years, bitcoin is still too young even after bit growing way to faster than any other currency. It's progressing way too faster and if you compare the growing speed of each currency with bitcoin, I think bitcoin can be the first.

I could not believe that bitcoin will exploit to these extent, when I noticed btc was 2014/2015 and then bitcoin was not regarded as much but now bitcoin is everything.

I don't think that comparing a digital currency with a fiat money like this is right. They have completely different systems. But it is a fact that Bitcoin is improving every year. Bitcoin usage is continuing to increase and more places are adding Bitcoin as a payment option.

I don't think Fiat is comparable to Bitcoin. Bitcoin is a digital currency, cryptocurrency; It should only be compared to other cryptocurrencies. Bitcoin is more volatile in nature than Fiat. People associated with cryptocurrencies consider Bitcoin to be an asset or investment. However, the price of Bitcoin to convert Bitcoin to Real Money is still linked to the US Dollar and other Fiat currencies.

Looks exiting! I'm interested what will be when the last Bitcoin is mined.

Based on the market growth and the decrease there'll be change in its position. Volatility is always part of the cryptocurrency market, and this confirms that there isn't any specific position for bitcoin in the table. Sixth place isn't not that easy to be reached. When more and more number of traditional currencies go out of usage due to inflation, bitcoin leading the table confirms the growth.

That’s really good and it shows that the circle is increasing and more people are starting to get involved in Bitcoin unlike before. This is really good and it was able to beat so many world currencies to be on the sixth position. Can’t wait to see it move further up, that would be cool.

That’s right, that sixth position is no the limit for Bitcoin, it can keep up on going from there and beat more currencies on the list, which is something I would really love to see happen, that will prove to me that more people are strongly getting involved.

Bitcoin can be call anything you want.. An asset or a digital currency.. It still has its own value right? Only it not legal to be use in certain country's as it not recognize to be use as some country's hate bitcoin. Lets hope this will be change in the future so cryptos market can grow more bigger and stronger at the future.

Even though many people think Bitcoin is not a currency, because today many people use Bitcoin only as an asset.
But Bitcoin is able to enter as the 6th largest world currency, showing Bitcoin is indeed very popular. As a crypto
community, I am of course very happy to hear this positive news. Hopefully more and more countries will legalize
Bitcoin as payment, so more merchants will accept Bitcoin payments. So Bitcoin will actually be used as currency.

There are only two possibilities that will happen after the bitcoin halving. One will be the bitcoin price will continue to increase and we can reach a new ATH record this year because the hype has been started already.

Bitcoin and Gold are not the same thing and Gold was not currency and was seen as an investment/federal reserved even since fiat currency was introduced and when Nixon concluded the USD to no longer be convertible for a fixed amount of Gold.

I completely agree that Bitcoin is an asset, and basically its value is measured by the dollar, but there is little that can be bought for Bitcoin itself. A lot of smart words can be said that Bitcoin is not a currency, but, nevertheless, many Bitcoin holders will be flattered by this state of affairs and of course such ratings contribute to the greater distribution and trust of people in cryptocurrency. With all the volatility of Bitcoin prices, one thing is clear - this asset already occupies leading positions in various polls and ratings, and, of course, I think 6th place is not the limit.

Bitcoin is different, it's not a fiat currency where we compare with other currencies that is tied up with their economy.

Some countries even consider bitcoin as a properly, not a currency.. but anyway, it's nice to know that bitcoin marketcap has already grew a lot since it's inception, and that will continue to rise since bitcoin demands continues while supply doesn't increase, which is opposite to fiat currencies.


Agree with you.

Bitcoin is in a completely different category, I dont think that these can be compared..

I think it is premature to compare Bitcoin to fiat currencies that are recognized by the state...
I appreciate the author of the article but don't really agree with the results of his research. USD, POUND & EURO which are included in the list are the currencies of a country and have been recognized by the country but Bitcoin is not the currency of a country and has not yet received recognition.

Gold has the advantage that a fool in power cannot make it lose its value overnight, that is shared with Bitcoin. What is not shared with bitcoin, is the self verifying nature, that crypto provides. Even if you went back to gold coins, they can be messed with (tampered). A little dent here or there, it starts physically losing value (weight). In the past gold ingots have been found altered, they need to xray them and even take sample (which can ruin the ingot and needs to be melt/minted again). The physical realm has these disadvantages, oh and its heavy, and it paints you as a giant target for mugging or worse.

If the USD collapses and enters an inflation spiral into doom, people will quickly stop putting btc charts comparing it to the usd. The usd from a couple of decades ago was already more valuable, so the more time that passes the less these charts make sense. How many usd today are needed for 1 usd from 2009?

Indeed you cannot use gold directly, because most merchants can't even verify it, unlike bitcoin. And this verification costs money, which is deducted when you go to a place that would actually exchange your gold. But i think comparing it against its price isn't too bad, unless you know of some other asset whose value is even more stable, maybe one of the other fancier metals?

Technically the title is mentioning "currency" and gold is not one anymore. Its a pure asset.

It is unfortunate to see the original topic in the press section, posted 1 day before this, didn't get the appropriate attention... https://bitcointalksearch.org/topic/2020-09-03-bitcoin-is-now-the-6th-largest-world-currency-5273439
Recycle, Repost.

I'm really not surprised, this will be worth much more within the years

Bitcoin is in number 6th at Circulating supply chart but the thing is bitcoin is a crypto currency and it has it's own value.Even,we can exchange it to other currencies.So,Calculating bitcoin with other Fiat currencies is not suitable.(Personal opinion)Bitcoin has the greatest value in crypto market and that is the fact...

I think the bitcoin is not suitable for them because those are the fiat currencies and it's not on the category on it because it belongs to the world of cryptocurrency but if OP wants to show all time currency and I think it's not quite bad but still they are different.

There is a chance that it takes time many people will adopt the use of the bitcoin as the currency and mode of payment AFAIK there are some businesses all over around the world already accepting the use of this kind of payment which is a good thing they are now slowly introducing the use of the bitcoin.


I think it takes a lot of process on this kind of adaptation because there are some country does not like the use of the bitcoin and some of them already banned the use of it.

I'm also wondering how it goes like this but I think that Bitcoin deserves to be one of those, not actually it is fully adopted by most as a currency but because this was intended for a currency that means it belongs to the category. Bitcoin is getting known globally, not only because of the price but for now people are started to enjoy it as a form of digital currency that they'll use in buying stuff. Though only a few had started to enjoy it sooner or later, we can be of that realizations once it fully adopted and merchants are open for it.

1 for 1? No. 1 BTC = 1 BTC that is correct, but 1 for 1 is incorrect. 1 for $10256 (and currently changing while I'm writing this) is the truth because we have accepted Bitcoin as an asset and it is required for BTC to circulate among the whole world because if it has no high value and bigger market cap, it will be of no use to the whole world as the liquidity will not be enough to serve the world. Liquidity is what Gold (as an asset) and fiat currencies have which Bitcoin still lacks of, due to which we still see crashes and pump-ups happening in markets.

Gold was a currency back then, but now the most widely used is fiat currency, you can't exchange an oz of gold to get a louis vuitton bag unless the owner agrees to accept it. I guess the point of him is bitcoin in compare to gold in terms of storing a value where we can generally agree. Bitcoin is a currency for some, some uses bitcoin as a medium of exchange especially on the internet while gold just can't. 1 for 1?

I also wonder about this too, coz bitcoin wasn't really a global currency, you can't use it globally but in terms of being accepted it's not.

This ranking will be fit properly in the near future when we have huge adoption and the price of BTC is mature to stability. This might not be a good comparison most especially with the kind of volatility in the crypto space.

That is because there's not much merchants accepting bitcoin, unless you are in Germany or Japan or Australia then you can use bitcoin as currency. So for majority of us, it became as an investment platform (holders). It already affected the financial ecosystem, most unbank individuals prefer bitcoin now and the global banking system or financial are responding by hard line stance regulations, example India.

I think that Bitcoin at this stage is not comparable with fiat currencies, the currencies are backed by gold, and other things, the support of Bitcoin is its supply-demand, blockchain and its investors, little by little it has been gaining a lot of ground. . The fact that bitcoin represents money is in a very different range than the currencies OP compares.

If Gold isn't a currency then obviously bitcoin can't be called a currency. Gold was once globally accepted as a medium of exchanges, although the fiat scams has overthrown all that, still Gold has value and would be gladly accepted by some individuals just as bitcoin currently is. Bitcoin hasn't be accepted as a currency so why compared it to other globally accepted currency if your sentence is discrediting Gold as a currency.

How does bitcoin get ranked among world currency when (if I'm not mistaking) the last time I checked it isn't even authorized compared to gold. I'm a little bit confused here.

I enjoyed reading this thread..im learning from your shared details and its quite impressive that this was being tackled in bitcoin thread..it was a big help for beginner members like us.. it makes me so proud that I've known bitcoin. there were just few people who believes in bitcoin..thank you bitcoin.

Almost every user stated the market changes happening with bitcoin, with which the rank can differ very frequently. Some mentioned it isn't fair to make a comparison of bitcoin market capital and circulation along with the fiat currencies circulation. However in my view the growth it reached in the short time period makes me understand the true value of cryptocurrency.

Right now bitcoin and other cryptocurrencies were used much as an investment than a cryptocurrency for usage. That's true, but the comparison gives an hope that cryptocurrency network is growing high with time and is to make a global change in the financial ecosystem.

I was quite surprised to see the data in the opening post, this is very good and interesting news. Imagine Bitcoin in a decade
can become the 6th largest world currency, this makes me even more optimistic that in the next 10 years, Bitcoin should be
at least capable entered as the order of 3 largest world currency. This is also proof for people who doubt the future of Bitcoin,
it turns out Bitcoin already popular and has a high enough demand.

I've read the source from the thread above, it's enough to get me excited. For me, bitcoin should indeed be in the ranks of the world's top currencies, this shows that bitcoin trading has skyrocketed and one day it might completely shift the world's top curreny.

It's great that bitcoin is in sixth place. In the future I think bitcoin will take a higher position, bitcoin has already proven its worth as a decentralized currency. Bitcoin has only been around for 10 years, but the results have been staggering. The battle between fiat currency and Bitcoin continues, I believe Bitcoin will win. That is the law of growth.

You can't compare fiat currencies with bitcoin due to bitcoin just being powered by these currencies. In simple terms, bitcoin is any fiat in digital form.
Bitcoin was just a product of belief and fueled by fiat currency, I guess it is very pointless to compare bitcoin to fiat currencies, the only thing they differ is that bitcoin is running to a different network and decentralization.

It will be the proof that bitcoin has a growing online adoption and the believers of bitcoin are keep on increasing. It also symbolized the importance of bitcoin to everyone but it is still far beyond the true currency that a large number of people are using.  Will ,who knows government will accept bitcoin as an alternative currency during this pandemic period.

data from coinmarketcap:
currently the circulation supply for Bitcoin is about 18.479.562, with price $10.426,43 for each bitcoin.
marketcap = $192.676 billion.

Money Supply M0 in Russia (June 2020) 11516.40 RUB Billion.
Which mean $152,71 billion.

So it's still in 6th place. CMIIW.

source: https://tradingeconomics.com/russia/money-supply-m0

This is a very interesting news. Bitcoin being ranked as a currency. Only that it is imperative to ask this crucial question, how many people regard bitcoin as a currency? A large percentage of bitcoin users regard it as an asset or a store of value. Many see bitcoin just like they see gold, as a store of value. Quite a number of people, especially in developing countries, do not even know bitcoin can be spent just like their country's fiat currencies.
Just like many before me have pointed out, can bitcoin maintain this? It's volatility and huge price fluctuations will hardly make it so.

Imagine, the whole world is buying bitcoin even with a small amount of their funds, most are hodling bitcoin even in sats, that's why it becomes one of the largest currency in the world. With all that being said, bitcoin has already proven its reliability for transactions even with huge amount of money. Who knows, if bitcoin could be the worlds currency, I wonder how economy could perform without regulations in it. Perhaps, I am fine for bitcoin to be an alternative currency to a country even if it becames one of the largest because believe me, no one would like to use bitcoin for buying cheap items and service.

Both the information and source of this data are interesting. I'm not sure if BTC has that level of adoption and I'm also not certain how this data was normalised or put together. Without this crucial piece of information the end result is almost irrelevant.

In addition to this, for the sake of the argument and for a split second lets assume that BTC is the 6th currency in circulation, the real question is how long is this going to be valid for. BTC sadly has already shown signs of destabilisation against the recent recovery at circa 12k?

Quite impressive for cryptocurrency to be lined up with fiat currencies that are existing decades and decades. And the advantage of btc - it is accepted globally, wherever you are, you can convert your btc to your local fiat, that is if you have local exchange or p2p services. But in general, people around the world can easily get in touch with btc in just few clicks, whereas when it comes to fiat, you can't get a hold of US$ if you are in another side of the world. This is really amazing for crypto.

I just take a look to the circulating supply of my local coin, and it's only $88 billion... so, Bitcoin has almost 3 times the supply of Mexican Peso.

Isn't a surprise at all but for sure the bitcoin market goes a lil down with the crash we see in the past 2 days. So, My deap pesso is getting close to BTC.

in term of fiat i dont know if bitcoin can be call fiat or not but i think it was a cool data to be known.. It prove bitcoin are a famous anonymous fiat to be used a lot in the whole world now. Glad to see the more and more peoples using bitcoin as it improve that bitcoin has more supporter than what we can imagine.

Bitcoin is being put on many lists because there is no strict and right answer regarding what it is. So I've seen it compared with stock, currencies, stores of value and  even payment systems (like Apple Pay). I personally prefer it being compared with currencies, but since it's true that people use Bitcoin in different ways, they effectively make it all of those things (or at least similar enough to stand in the same row with them). That being said, I do agree that gold does not belong on the same list as fiat currencies. Moreover, I think Darker45 has a fair point that Bitcoin does not thrive as money, so it probably belongs on other list more than on this one.

It's kinda amazing because it was threated as a "currency".
Same thought while after watching a documentary, it made me think that I'm treating bitcoin as an asset, not a currency because I'm just using to make a profit/income to it. Most of people have the same thinking, making a profit in the potential of bitcoin and other cryptocurrencies.
Based on the category, the basis isn't about the price value so I guess it'll stay on its spot.

This got me thinking ... actually I've been using and treat bitcoin as asset just like other people too especially since the fee getting high and higher also the price surge so often . Not really fit with the current society standard unless yeah there's a new standard invented to follow crypto currency needs . High fee + high volatile is the biggest problem for bitcoin to be considered as a currency.

It's still falling tho , not sure it is.
Back to $5,000 and it's sure a cut in half to get out of top 10. Not really fit.

Is btc still in 6th place after yesterday fall?

You make a good point. BTC can be used as a currency but it is also more than that just as with gold.

It stands a very good possibility of obtaining the top spot within the next 10 years.To reach the #6 spot in such a short time is also very impressive.

A lot of terms are wrongly used around the crypto sphere. The name itself concludes that BTC is a currency: cryptocurrency, but that doesn't mean it is necessarily one. On the other hand, do people buy and sell stuff using it (and work for it)? They do, they also exchange it for fiat and backwards..

It's really what we want it to be. Some people (especially around Europe) see CHF as a refuge and hold their bucks in it on the long term, especially before and during recessions. That doesn't mean CHF is a safe haven asset.

Does Bitcoin really fit with the other fiat currencies out there??
Bitcoin's price is still pegged with USD and other fiat currencies there.

You see Bitcoin as a currency? Most of the investors see Bitcoin as an asset more than a currency for sure but yeah it has been compared to things that it isn't in line with . That rank will also change too whether if the price of Bitcoin goes up or goes down.

First and foremost I don't think Bitcoin will be comparable to fiat. Bitcoin may be a currency as well but most of us prefer not to treat that way, for we in this community think it as an asset or investment.
Bitcoin would be more comparable to precious metals like gold which was technically an asset as well. Besides, Bitcoin was too much volatile compared to fiat thus will make it unfair.

It's on a high rank but yet the mass still thinks of it as an investment/asset.
Worse, trading tool. 

When will that time be? We don't know. As long as the value of it keeps going up, they would just keep on buying and keep it for a long time.
Yes, I am also guilty of that.
Let's not be hypocrites here. 

this isnt only a battle between btc and other precious metals , it was said on the description above  but it would be better to see if all that has a value and can be used for paying are also be included on the list .  that way we can see the real position of btc versus to other assets/currency .  there are also rankings before  that are made only  to non fiat but  it was also already showcase a couple of times . i like this list that we have here better as it shows how strong already btc is

Or we have seen bitcoin compared to gold many times already, like in 2017 and now in 2020 wherein we are in a bull run. However, I don't believed that we need to compare BTC to any fiat currency we have right now. Obviously, BTC's supply is just 21 million, and those fiat can print as much as they can, so comparison wouldn't be fair in my opinion. Of course, the price is very unstable, we could hit 6 digits next year and pushes itself to the top 5, but then again when that bubble is burst, ranking will also go down.

Shut up,get a life and stop Spamming others thread.

Circulating Supply is indeed in Bitcoin but the thing is does really someone uses this or just for trading?
Because Fiat circulate as people uses to pay anything and for some investments also but that is far different in crypto.
Well Indeed for us crypto lovers and supporters News like this is really Thrilling and very positive yet what does this give to the market?
is there any increase having this record?

I agree with the bitcoin volatility in the marketprice as a world currency bitcoin doesn't really fit in the category, It's more like of an investment thing other than a currency that we use in spending and transactions, etc.

Still, there is no doubt that bitcoin is already huge with a $216.5 Billion but still could change as time goes by. A lot of people would believe the bitcoin becoming the world's number one currency and its a great time seeing bitcoin climbing its way to the top even if it is still not suitable for number 1. The progress and process are needed, something could happen in the way as bitcoin adaptation around the world continues.

I'm not really surprise if bitcoin reaches top 1 soon since we are all expecting it in the future.

I see really positive that Bitcoin is included in the category of coins based on Circulation Supply.
So it is a due inclusion of the volume of circulation of the bitcoin community. Good for Bitcoin and for everything we believe in. It never ceases to thrill me, it is an achievement.

I am not surprised because bitcoin is a currency from the its users coming from around the world. So, there is a volume of users and this is what i think made bitcoin as one of the larget currency now. However, its value is more volatile compared to other currency. The bitcoin definition too is yet so confusing because it is a currency somehow others perception for bitcoin is a investment where they could earn the from it. Whatever it may be as long as that we were benefited by the technology then that would be fine for me. I hope bitcoin will going to get more users to see more news like this.

No one expected for bitcoin to go this far because it is really progressive and still in the process of development.

Bitcoin's price can affect the market and the economy due to its existence as an asset for investments.

It can still be developed and become more than that. We never know, maybe someday bitcoin will become the 1st largest currency in the future. If it becomes the 6th based on your sources and post, it means that it has a lot of potential to exceed that. That's why as soon as possible invest into it.

1.The current Bitcoin price is 10,300 USD,not 11,722 USD.
2.You are comparing the circulating supply of fiat currencies with the total market cap of Bitcoin,which is kinda wrong.You have to compare the circulating supply of BTC,which is a different category than the market cap,because lots of Bitcoin are just sitting in the wallets of BTC HODLers and they are not used in the BTC market circulation.

Yeah, this point is thinkable. Let us not forget this comparison is also between centralised Vs. decentralised assets and thus would be unfair to do so in the first place.
It's like we are comparing the military zone with the democratic zone thus making one very stringent in terms of valuation and another almost unpredictable at any given time.

May be we could just categorise it as world's costly asset by it's per unit value.

In this category I can say bitcoin really has something to brag on. But of course compared to fiat the market of bitcoin is still not fully adopted. That only seems to make sense how people are really into it. Social media is a powerful tool to make anything goea viral from hype to tech then thats the best way.

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425billion USD is literally comparable to word fiat currency. Damn imagine its value considering its not even authorized legally by most country. The only bad side here is the volatility.

While I agree that it's more accurate for bitcoin to be compared to gold, the topic is about comparing bitcoin to other currencies though(obviously gold is not a currency), not necessarily other assets in general.

This is a very subjective opinion. BTC is indeed a digital currency by means of how we use it and the name imply itself as coin. I believe that group of person that saying BTC is not a digital currency is in denial state of mind. BTC is not same as gold because we don’t used gold as payment for our transaction while on the other hand, BTC does.

We are on 2020 and let’s just stop making things complicated AF.

in the order of the largest currencies, I feel bitcoin is not worthy of being juxtaposed with them, because we know that many people oppose bitcoin not as a digital currency or as a means of payment like other currencies, but if this is sorted as a comparison, it doesn't matter to me. and it's really a great achievement bitcoin can prove to the world

Forever and how long this growth lasted itself being bigger than initially offered speculation info. Top results lead on a time for more. I can't really think it would limit offense because mining technology is something moved to extra evolved focus. In means there already can.

Imagine decision improvements precise on course growth. All bitcoin is now could set changes for what bitcoin gets to become. Nobody has seen economy interactions besides just at using a typical wallet surprise story. Back where time counted different than now things; develop as anticipated as long as used build relates. I'm with significant belief that other coins measure.

I think it is necessary to include gold and silver in this ranking. Any ranking that compares Bitcoin to money needs to include them. This strengthens the idea that Bitcoin is also an excellent store of value. I did some research and it looks like he was 8 last year.

https://bitcoinist.com/bitcoin-russia-monetary-base/

In addition it is the easiest asset to know how many were issued, anyone can easily consult this information. And it is the only one that we are sure is impossible to clone.

You could only classify Bitcoin if it has that kind of price in USD. It would be very different if it has a lower value, which we don't want, of course. But in all honesty, it's not directly correlated to the amount of circulating like the other ones. There's a difference, for sure. What I'm curious about is how it would affect the entire world, and in what way? I'm hoping for a positive impact on those people learning about Crypto.

I am not sure if Bitcoin really fits into this category, and whether the measurement which is applicable to these fiat currencies is also applicable to Bitcoin.

First and foremost, Bitcoin has been thriving not as a currency but simply as an asset which people would hardly even spend.  

And since the price fluctuations of Bitcoin are rather huge, its volatility very high, BTC's rank will change dramatically over a very short period of time. As a matter of fact, if Bitcoin is ranked 6th according this post, it probably ranks much lower now since it had just shed around $26 billion in a matter of hours.

Circulating Supply

USD - $1.5 Trillion

EUR - $1.38 Trillion

CNY - $1.15 Trillion (8 Trillion CNY Units)

JPY - $1 Trillion (106 Trillion JPY Units)

INR - $425 Billion (31 Trillion INR Units)

BTC - $216.5 Billion (18.48 Million Units at value of $11722)

This data has been made in comparison of the bitcoin market circulation against the M0 money supply of fiat currencies.

What is M0 money supply?

Total value of bank notes, coins, and all substitute that can be converted to cash. The M0 value is commonly termed as narrow money.

Source : Decrypt