Bitcoin Stumbles Down The Global Base Money Ranks

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The below is a direct excerpt of Marty’s Bent Issue #1217: “Q1 Monetary Base update.” Sign up for the newsletter here.

Matthew Mežinskis has gifted us with yet another global monetary base update. As of the end of Q1 2022, bitcoin ranks as the ninth largest base money in the world (including gold and silver). This is two spots lower than it was after Q3 2021, when bitcoin was the seventh largest base money in the world and trading at an all-time high. A stumbling down the list shouldn’t be shocking after an approximate 25% decline from that all-time high by the end of March 2021. If the price of bitcoin remains above $27,100 between now and June 30, 2022, the nascent asset should retain its spot at ninth place on these charts. If it falls below that price (as of May 20, 2022, when the report was published) the Australian cuckbuck will take its spot.

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