First off: what I'm calling "market capitalization" here is actually the M1 money supply, which is a little different but still close enough, I think.
If you don't know what M1 money supply is, investopedia will explain it better than me:
M1 is a metric for the money supply of a country and includes physical money — both paper and coin — as well as checking accounts, demand deposits and negotiable order of withdrawal (NOW) accounts. The most liquid portions of the money supply are measured by M1 because it contains currency and assets that can be converted to cash quickly. "Near money" and "near, near money," which fall under M2 and M3, cannot be converted to currency as quickly.
I should add that M1 and M2 are the most common standards when it comes to calculating a country's money supply. Here I chose to use M1. If I had used M2, all the numbers would have come out at least a little higher, and the countries that find themselves at a tie with Bitcoin but are just a little lower (and thus in the red) would likely have been green.
I got the idea of doing these calculations because I recently stumbled upon this map, which I found interesting, and I wanted to know the details of how the different market caps compared to Bitcoin's:
Notes:
- The red color means that this country's currency's market cap is lower compared to this of Bitcoin. The green color means that it is higher.
- All amounts are in USD.
- Normally there shouldn't be any mistake but if you find any, I invite you to point it to me.
- I won't give the detail of the calculations here, because it wouldn't be readable on the forums, but if you feel like checking any detail, you can have a look at the data on
http://www.tradingeconomics.com/united-states/money-supply-m1 and divide it by the USD exchange rate (just make sure to check if the original data is in thousands, million or billion of the original currency: it matters).
- Of course it goes without saying that this data is true as of today, but without being updated, it will divorce more and more from reality as time passes (and I don't intend to update it without proper tools, which I'm lacking at the moment, sorry
): creating this chart already took me a few hours of my time.
Albania 3,197,063,844 Angola 23,176,824,000 Argentina 53,363,929,500 Armenia 1,215,818,100 Australia 254,668,400,000 Austria 211,297,180,000 Azerbaijan 4,256,511,000 Bahamas 2,298,000,000 Bahrain 9,253,800,000 Bangladesh 25,704,666,000 Belarus 2,768,776,400 Belgium 199,555,000,000 Belize 1,461,030,000 Bhutan 679,479,000 Bolivia 8,161,005,440 Bosnia and Herzegovina 5,044,583,500 Botswana 1,542,723,300 Brazil 110,825,644,800 Brunei 3,171,000,000 Bulgaria 22,451,385,000 Burundi 375,830,472 Canada 674,471,120,000 Cape Verde 591,940,560 Chile 44,272,605,000 China 7,299,000,000,000 Colombia 34,625,062,800 Congo 1,264,109,020 Croatia 11,043,284,000 Cyprus 4,739,030 Czech Republic 129,446,456,000 Denmark 156,736,160,000 Djibouti 583,900,800 Ecuador 22,639,190,000 Egypt 32,937,115,000 El Salvador 3,253,400,000 Estonia 11,981,860,000 Euro Area 7,692,436,510,000 Finland 123,030,740,000 France 1,126,275,580,000 Georgia 1,896,050,722 Germany 2,046,375,000,000 Greece 116,899,640,000 Guatemala 10,337,288,000 Hong Kong 287,816,100,000 Hungary 50,284,980,000 Iceland 4,124,216,000 India 318,319,500,000 Indonesia 88,705,485,000 Iraq 59,571,120,000 Ireland 154,587,180,000 Israel 84,828,120,000 Italy 1,081,634,110,000 Japan 6,066,107,520,000 Jordan 14,489,442,000 Kazakhstan 14,269,163,600 Kenya 12,212,160,000 Kuwait 31,157,048,000 Kyrgyzstan 1,266,666,800 Latvia 10,869,595,000 Lebanon 6,509,448,000 Lesotho 360,431,800 Lithuania 15,053,830,000 Luxembourg 237,540,000,000 Macau 8,823,792,900 Macedonia 1,716,869,100 Malaysia 84,698,180,800 Malta 13,764,587,000 Mexico 175,363,079,136 Moldova 1,404,560,000 Mongolia 856,645,472 Morocco 73,019,200,000 Namibia 2,926,537,200 Netherlands 484,705,720,000 New Caledonia 2,994,948,000 New Zealand 35,730,580,000 Nicaragua 1,874,876,960 Nigeria 32,075,573,408 Norway 222,315,840,000 Oman 13,156,260,000 Pakistan 101,140,087,500 Peru 22,787,100,000 Philippines 58,831,076,600 Poland 203,827,527,500 Portugal 110,352,310,000 Qatar 33,804,270,000 Romania 43,203,240,000 Russia 153,936,646,226 (data source:
https://www.cbr.ru/Eng/hd_base/?PrtId=mb_nd_month)
Rwanda 919,920,000 Sao Tome And Principe 57,298,283 Saudi Arabia 309,664,080,000 Serbia 5,227,269,200 Seychelles 317,614,660 Sierra Leone 364,238,700 Singapore 120,749,230,000 Slovakia 45,475,000,000 Slovenia 16,562,530,000 South Africa 119,149,398,000 South Korea 658,838,060,000 Spain 842,815,460,000 Sri Lanka 4,874,920,000 Sudan 10,324,650,000 Swaziland 367,040,000 Sweden 273,167,620,000 Switzerland 593,364,000,000 Taiwan 202,921,600,000 Tajikistan 1,083,284 Thailand 49,879,200,000 Tunisia 11,264,880 Turkey 99,408,052,978 Ukraine 18,203,260,000 United Arab Emirates 127,980,000,000 United Kingdom 2,017,418,750,000 United States 3,320,700,000,000 Uruguay 4,638,025,000 Venezuela 907,167,934,000 Vietnam 64,069,016,000 Zimbabwe 3,260,365,000 Data sources:
https://blockchain.info/charts/total-bitcoinshttp://www.tradingeconomics.com/united-states/money-supply-m1https://www.cbr.ru/Eng/hd_base/?PrtId=mb_nd_monthGoogle exchange rates as of today.
(though I suppose it probably comes from a mistake on the part of