Bitcoin, the leading cryptocurrency in the world is very near to reach half of the average lifespan of the fiat currency.
A crypto analyst and statistician, Willy Woo has compared the life span of Bitcoin with the average lifespan of the fiat currencies. He says that Bitcoin is about to cover half of the average lifespan of the world’s fiat currencies.
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In his tweet, he claims that the world’s largest cryptocurrency has already covered 40% of this life span.
Bitcoin has already reached 40% of the life expectancy of the average fiat currency (27yrs). The most successful fiat currency has lost 99.5% of its value. https://t.co/rEyQabeeQs
— Willy Woo (@woonomic) October 18, 2019
Average LifeSpan of a Fiat Currency is 27 Years
He presents the detailed study of 775 fiat currencies by DollarDaze who concludes after studying the number of 775 past and present fiat currencies of the world that the average lifespan of a fiat currency is 27 years.
Willy Woo also adds that the oldest fiat currency, British pound, which is considered to have the longest life span, has also almost lost its value. He states:
Bitcoin has already reached 40% of the life expectancy of the average fiat currency (27yrs). The most successful fiat currency has lost 99.5% of its value.
A detailed view of the study of the life span of the fiat currencies by DollarDaze is given in his tweet.
Money has a history.
Fiat money has a history. It dates back to the 7th century.
— Travis Kling (@Travis_Kling) October 17, 2019
Bitcoin will turn 11 Next year in Jan 2020
Bitcoin has passed ten years of its life expectancy. Now it is going to enter into the new phase as it will be celebrating its 11th anniversary next year (2020) in the month of January.
Bitcoin is being compared with the fiat currency Euro which is going to enter its 21st year of life span in the next year as well.
There only three million bitcoins are left for mining as on Friday 18th Oct, 18 millionth bitcoins are going to be mined. There are almost 17,998,550 bitcoins are available in the market.
Bitcoin Gains much Value as compared to Fiat currencies
Bitcoin has earned more value as compared to the fiat currencies of the world. And it has already become the leading crypto asset in the crypto industry.
We can imagine the worth of Bitcoin from this point that Bitcoin is now compared with the precious metal in the world, Gold.