Post
Topic
Board Economics
Re: Does Bitcoin affect world trade?
by
Horace_Damico
on 06/08/2018, 06:38:51 UTC
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
Of course there is the role of Bitcoin in international trade. Because there are several countries that work together to make shares in the country. If trade between countries is interrelated, there will be cooperation between the two countries.

At this point though, it isn't happening. The dollar is still the unit of exchange for most countries (but I don't think it will be for long). Russia and China are already moving away from it.

Bitcoin's market cap isn't big enough to be a factor in world trade. It's only about $41 billion, whereas physical money is $31 trillion. So there's plenty of room to grow. This means that it cannot influence world trade, but it might be able to in the future. It is a useful enough tool, so more and more countries will want to start using it.