What is Bitcoin's Market Capitalization?

On May 15, 2017, the market capitalization of the virtual currency Bitcoin reached US$29.26 billion, equivalent to Rp 389.2 trillion at an exchange rate of Rp 13,300 per US dollar. This value was the highest compared to other virtual currencies such as Ripple, Ethereum, and Litecoin. The maximum supply of Bitcoin is 21 million Bitcoin (BTC), while the current circulation is 16.33 million BTC, with a daily transaction volume reaching 240 BTC or equivalent to US$427.44 million.

With the increasing advancement of digital technology and the rapid growth of internet transactions, digital currencies emerged, trusted for online payments, purchases, and transfers. Hundreds of virtual currencies exist in the digital world, one of which is Bitcoin, introduced in 2009 by Satoshi Nakamoto. Bitcoin's exchange rate in 2012 was only US$5; now (May 15th), it has reached US$1,791.99, or approximately Rp 23.83 million, making it the most expensive in the world.

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Cryptocurrency is a technology that creates digital currency using cryptography to ensure security and prevent counterfeiting. The exchange rate or price of cryptocurrency is largely determined by the buying and selling power of users, similar to current fiat currencies.