Bitcoin (BTC) is the strongest and most secure network in the world. Due to its encryption and decentralized nature, Bitcoin cannot be hacked.
Bitcoin is becoming more and more mature. While the crypto currency was still titled a few years ago as a pure speculative object, BTC has meanwhile developed into a respected asset. Whether institutions, hedge funds or companies: They all take Bitcoin into their own portfolio to protect themselves from the partially escalating monetary policy.
Characteristics such as the limited supply, censorship resistance, high divisibility and easy portability arouse – once the concept behind Bitcoin has been understood – desires, and so it is probably more than understandable that BTC is now also considered digital gold in institutional circles.
Google Finance is again the place for the most important facts about finance, currencies and the global markets. And so it is only logical that BTC also finds its place here.
The crypto-currency has many similarities to gold and gives it the attributes of a commodity, but works just as well as a currency. For this reason, Google Finance lists Bitcoin alongside a number of top pairs in currency trading.
Bitcoin in attack mode: BTC as top currency
However, it is now interesting to note a recently published observation showing that Bitcoin was displayed as the top currency in Google Finance. Even though we do not know the exact reasons, there are various possibilities for the short-term attack on Bitcoin:
Google always adapts its search results to the individual preferences of each user. Added to this is the high weighting of current search queries. If „Bitcoin“ is thus in line with the trend, it may well be that the crypto currency will gain more visibility.
As we can see, the listing of the BTC/USD trading pair finds its place right next to other global pairs such as EUR/USD, USD/JPY or even GBP/USD.
BTC strength compared to other currencies
In this context, the behavior or performance of currency pairs is particularly interesting. The US dollar is – at least from the current perspective – probably the most important currency in the world. In other words: USD is the leading currency and the most important trading pairs worldwide are always quoted in reference to the dollar.
But if we now take a look at the chart below, we see one thing in particular very clearly:
While the Japanese yen performed worst against the US dollar, the BTC was particularly convincing.
This increase in purchasing power becomes particularly clear when we take a look at https://fiatmarketcap.com/. There we can see how many Satoshi (Sats for short) the smallest unit of a respective local currency costs. Whoever regularly observes this page will see that one always needs few sats. In short: The purchasing power of Bitcoin is increasing.