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Bitcoin exchange moves twice as much money in a day as the Spanish stock market in a month

Bolsas y Mercados Españoles (BME), the renowned Spanish stock exchange, traded in January 2021 just over 31,000 million euros (USD 37,000 million), a figure that can be reached by the main exchange of bitcoin in just one day, only with the spot or retail market.

In a report published earlier this year month, BME reported the movement of that amount of money throughout January, which represented a fall of almost 15% compared to the same month in 2020 and more of 1% compared to last December.

Meanwhile, the exchange with the highest volume in the market for bitcoin (BTC) and other cryptocurrencies, Binance, moved more than USD 37,000 million in the last 24 hours in the market spot , according to records from CoinMarketCap.

Counting the derivatives market, Binance’s total trade in one day exceeds $ 80 billion. This is more than double that of a whole month of negotiations on the Spanish stock market , which shows the volume of capital that is in the cryptocurrency market as of today. today.

If we follow the same source, the cryptocurrency market in full moved almost USD 160,000 million in the last 24 hours, about 5 times what was traded in BME throughout the entire month of January.

The difference in volumes between the digital asset negotiations and the Spanish stock market does not seem to but support the sentiment that is being installed among investors, who are increasingly interested in bitcoin and other digital currencies.

However, the advantage of the cryptocurrency market is seen against small markets, such as the Spanish. If we expand to other larger markets, such as Nasdaq, we find volumes that are almost double that of all cryptocurrency exchanges . In the last week, on Nasdaq they have moved between USD 215,000 million and USD 256,000 million daily.

The rise of bitcoin against traditional markets

The growth margins of bitcoin compared to traditional markets are not only revealed by the volumes of trade that we have exposed. Also historical returns give bitcoin an edge in the long term.

In just 12 years of existence, bitcoin has shown sustained growth in capitalization, gaining ground to a very accelerated rate among the most traded assets worldwide.

Precisely, during the day of this Friday, February 19, bitcoin, the main cryptocurrency in the market, became an asset of more than USD 1 trillion in capitalization. It achieved it after surpassing the mark of USD 53,700 per unit, as reported by CriptoNoticias in the morning hours.

Today, after passing a billion dollars, we find BTC in the select group of assets to exceed that number. Currently, bitcoin is the eighth most valuable asset in the world, in part due to a large injection of institutional capital in recent months .

In total capitalization, bitcoin is only surpassed by the shares of Google, Amazon, Saudi Aramco, Apple and Microsoft; besides silver and gold. Precisely, this last precious metal is considered the best store of value in the world, although that narrative has also begun to change at a steady pace. Bitcoin is already seen by many as the long-term substitute for gold.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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