Jameson Lopp, the lead developer at BitGo, a Blockchain security company, has calculated that Bitcoin would rank 32nd globally for its value in circulation. He created a clone money supply aggregator M1 Index, similar to This puts it ahead of Singapore and South Africa, and just behind Finland and the UAE.
By creating a clone of the global M1 index, a metric for the money supply of a country which includes physical money — both paper and coin — as well as checking accounts, are valued, Lopp calculated that Bitcoin would finish pretty high up.
Valuing the narrow money
In the index, narrow money is used as a metric to determine the value of a currency. The narrow money of a country essentially is every piece of existing currency, taking into account all paper money, as well as coins, and even digital money stored in bank accounts. Liquid assets held by the central bank are also considered…