Bitcoin has recently surged in price, reaching a new all-time high in comparison to the exchange rate of certain high-inflation countries, although it still needs a 33% increase to reach its previous high in 2021.
Content Index
Toggle
Bitcoin Surpasses 52K with Impressive Data
Bitcoin Hits New High Against Japanese Yen
Germany Overtakes Japan as the Third Largest Economy, Leaving Japan in Pain
Bitcoin Surpasses 52K with Impressive Data
Based on the recent outstanding performance of the US stock market and Bitcoin ETFs, Bitcoin has surged above $52,000, bringing along impressive data:
Bitcoin’s market capitalization has reached $1 trillion.
It has surpassed Berkshire Hathaway to return to the top ten global assets.
MicroStrategy’s Bitcoin holdings are approaching a value of $10 billion.
Discussion has arisen about whether MicroStrategy will be included in the S&P 500 index.
(
Bitcoin at 52K! Is the Up Only Mode Activated? Wall Street Funds Continue to Flow into BTC ETFs and Gold ETFs Have Fallen Out of Favor
)
Bitcoin Hits New High Against Japanese Yen
Not only has Bitcoin reached a new all-time high against the exchange rate of certain high-inflation countries, including the Japanese yen.
According to the Bitfinex exchange, on February 15th, the BTC/JPY trading pair reached 7,917,600 yen, surpassing the previous high of 7,828,800 yen on November 10, 2021.
Furthermore,
BTC against ARS
(Argentine Peso),
BTC against TRY
(Turkish Lira), and
BTC against NGN
(Nigerian Naira) have experienced even more dramatic price increases.
Bitcoin’s exchange rate against ARS has increased sevenfold compared to its previous high in November 2021.
BTC/JPY
Germany Overtakes Japan as the Third Largest Economy, Leaving Japan in Pain
Recent data from the International Monetary Fund (IMF) indicates that Germany’s GDP in 2023 will be $4.5 trillion, while Japan’s GDP will be $4.2 trillion.
This marks Japan being overtaken by Germany for the second time, after being surpassed by China in 2010, and now ranking fourth in the global economy.
Japan’s GDP in the fourth quarter of 2023 decreased by 0.4% compared to the same period last year, but in reality, Japan’s GDP in 2023 still grew by 1.9%, surpassing 2022’s 1.0% growth rate. Meanwhile, China’s nominal GDP growth rate (4.6%) is lower than Japan’s (5.7%) for the first time in 46 years.
GDP
Japanese Yen
Japan
Bitcoin
Third Largest Economy
Related Reading
If MicroStrategy is Included in the S&P 500 Index, Will Millions Passively Buy Bitcoin?
TRON Led by Justin Sun Introduces Bitcoin L2, Three-phase Roadmap Covers Repledging, Ordinals Protocol