Bitcoin’s Market Cap Surpasses the IMF’s Special Drawing Rights Reserves

[jamie.redman1]

Twenty-four hours ago the decentralized cryptocurrency bitcoin and its US$300Bn market capitalization just surpassed the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $291Bn).

Bitcoin’s value has grown immensely in 2017 outperforming nearly every world currency, stock, and commodity this year. With a global average of over $18,000 per BTC and a $300Bn+ market valuation bitcoin has surpassed the IMF’s international reserve assets ($291Bn). The SDR is comprised of a ‘basket of legal tender’ from five nation-states. The value of the SDR, also known as XDRs, is based off a percentage of Chinese renminbi, U.S. dollar, the Japanese yen, the euro, and the British pound sterling. The SDR was created in 1969 using the Bretton Woods exchange system, and before 1973 it contained the value of 0.8 grams of gold.

Read More Here>>> https://news.bitcoin.com/bitcoins-marke ... -reserves/

[Daveshell44]

If the bitcoin price totally dependent upon supply And demand then if enough people band together and coordinate investments we could potentially create a bitcoin Wava causing the price to surge up for a designated period of time then we pull the money out creating the bottom half of the wave an then as the price plunges reinvest in another designated time this wave could be created a lot of profit for all those involved. social media and forums like this create this potential of group manipulation of the price for profit. Depending on the number of people if possible to get by with a few hundred dollar investment to create and ride scheduled wave of bitcoin.