In virtually every single case, the actual value of one Bitcoin is denominated in its fiat currency value. This can be either in US Dollars, Euros, Pound Sterling, or any other local currency. The website FiatMarketCap, however, depicts the prices of said fiat currency in Bitcoin. A very interesting take on this concept, as it only further confirms most currencies bite the dust when it comes to the world’s leading cryptocurrency. The following fiat currencies have the highest BTC value at the time of writing.
Surprisingly, the Euro has a much higher Satoshi value compared to the US Dollar and most other fiat currencies. That is a bit odd, as the Euro is often considered to be one of the weaker currencies in the Western World. At the time of writing, one Euro is worth 12,255 Satoshi. With its circulating supply of over 11.7 trillion EUR, however, it is evident there is no real point in comparing these two currencies with one another in that regard. Even so, these statistics are well worth paying attention to all times.
British Pound Sterling (GBP)
With the looming Brexit seemingly still around the corner, it will be interesting to see how the perceived market value of this fiat currency will evolve. In terms of its Satoshi value, it seems the Pound Sterling is still holding its own without any real problems. As of right now, one GBP is valued at 13,760 Satoshi, which is more than respectable, all things considered. It also has a much lower circulating supply compared to the Euro, as there are just 2.87 trillion GBP available right now. The central bank can always increase this supply if and when they see fit, though.
Jordanian Dinar (JOD)
Not much is known about Jordan’s financial affairs these days, but that doesn’t necessarily have to be a bad thing either. The Jordanian Dinar is worth 1.41 United States Dollar, which is part of the reason why it is also has a higher BTC value at this time. With a current price point of 15,411 Satoshi per JOD, things look very interesting for this particular currency. The circulating supply of 33.258 billion JOD also shows not every country needs a massive monetary supply to keep its economy afloat.
Omani Rial (OMR)
Most people often tend to forget Oman is a region which has its own fiat currency. It is also a rather valuable currency for that matter, as one OMR is valued at 2.6 US Dollar. The Middle Eastern countries seem to rank rather high on these lists, which is not necessarily what one would come to expect in 2019. One Omani Rial is worth 29,391 Satoshi right now, which might indicate there isn’t too much of a demand for Bitcoin in that part of the world just yet. Even so, it is interesting to see this currency so high up the list at this time. The circulating OMR supply sits at 17.11 billion.
Bahraini Dinar (BHD)
Another Middle Eastern country to make it to the top 6 list comes in the form of Bahrain. Its local currency, the Bahraini Dinar, is valued at 2.65 US Dollar, or 28,862 Satoshi. A more than remarkable value, especially when considering the “market cap” of Bahrain is much lower compared to that of Oman. These rankings will undoubtedly shift around quite a bit as more time progresses, which can make for some heated discussions. The circulating supply of BHD is 13.41 billion, which is nearly 22% lower compared to the Omani Rial.
Kuwaiti Dinar (KWD)
Even though the US Dollar is widely considered to be the world’s leading currency, its value pales in comparison to the Kuwaiti Dinar. One KWD equals 3.29 US Dollar, which is a rather high value for a currency in the Middle East. The KWD also has the highest Satoshi price right now, at 35,934 Satoshi. That in itself shows it is worth depicting the value of these currencies in Bitcoin, even if it is just as a minor educational tool first and foremost. Unlike the two currencies above, the Kuwaiti Dinar has a high circulating supply of 38.815 billion KWD.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.