World cryptocurrency now worth more than

Rising prices mean economic pain for people — as our incomes aren’t, for the most part, rising in tandem with prices — and they threaten economic growth more broadly. For damage control, earlier this month the Fed raised interest rates by half a percentage point, the largest increase in about two decades. The Fed is also in the process of reducing the money supply to further curb inflation creep and is expected to continue to hike rates in the future. Understanding Cryptocurrency and Its Benefits Floating cryptocurrencies account for the very large majority of the cryptoasset market capitalisation (Tether, a stablecoin, and Bitfinex’s UNUS SED LEO, a utility coin, are in the top 12 cryptoassets by market capitalisation, all the rest are floating cryptocurrencies). Table 1 summarises the market share of leading cryptocurrencies at the time of writing.

The world's cryptocurrency is now worth more than $1 trillion, with bitcoin accounting for a large majority of the value. The price of the oldest virtual currency has risen to almost $40,000, pushing the value of all bitcoins in circulation up to more than $700 billion. What is cryptocurrency? Bitcoin creator Satoshi Nakamoto is believed to own around 1 million bitcoins. Most of these were mined in the first two years of Bitcoin's existence when there was little competition. If he still has copies of the private keys that control these coins, that would give him a net worth of nearly $40 billion—enough to make him among the 40 wealthiest people on the planet. Nakamoto has never publicly revealed his true identity and has not communicated publicly since 2014.