CNBC Replaces CAD Tracker For Bitcoin

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One of the world’s most renowned news outlets, CNBC, has placed a Bitcoin tracker under its Forex section. Users have promptly noted that the new addition has replaced the previously standing CAD tracker. Given that Bitcoin’s current supply is greater than that of the Canadian Dollar, this probably doesn’t come as much of a surprise. However, could this be a telltale sign of further adoption of the world’s largest cryptocurrency?

Bitcoin Tracker On CNBC  

Bitcoin continues to break grounds amid traditional venues. A tracker of the world’s largest cryptocurrency is now featured on the website of newslet mogul CNBC. It is placed under their Forex tab. 

Source: CNBC Website

As you can see, the other trackers which are included there (when viewing from Europe) are EUR/USD, GBP/USD, EUR/GBP, and USD/CHF. 

Interestingly enough, a Reddit user has outlined that Bitcoin is also featured on CNBC’s website when viewing from Canada. According to him, the cryptocurrency has even replaced Canada’s national currency, the Canadian Dollar (CAD). 

This is probably somewhat expected, given that CNBC has certain programs such as Squawk Box which provide serious coverage on cryptocurrencies and Bitcoin, in particular. However, the fact that the website has placed a tracker under its Forex tab could also be seen as a sign that Bitcoin has become something that can no longer be ignored. 

This notion is also supported by the prominent Bitcoin proponent, Anthony ‘Pomp’ Pompliano, who has recently said that “it is irresponsible for institutions not to have exposure to Bitcoin.”

Bitcoin Is The 11th Largest Money In The World

The inclusion of a Bitcoin tracker on CNBC is further supported by the fact that the cryptocurrency is now effectively the 11th largest money in the world. 

In light of the above, it is also ahead of the Canadian Dollar, as Bitcoin sits on a market cap of around $211 billion, while the total supply of CAD is around $95 billion. 

Objectively, it’s worth noting that a serious amount of the existing coins are either unusable or forever lost and, arguably, the biggest factor which feeds the market cap is Bitcoin’s price. Hence, back in 2017, when Bitcoin reached its all-time high value, it was even the 10th largest money in the world. 

Yet, it’s a very nice thing to reflect on the number of people who have put their trust in a “bank with no CEO, office or marketing department,” as Rhythm puts it. 

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Source link Crypto Potato

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