Bitcoin and cryptocurrency still have a lot of room to grow in terms of their impact on global financial markets and their representation as currency. “Bitcoin dominance” is scant compared to fiat dominance.
Fiat currencies and traditional derivatives dwarf Bitcoin, Ethereum, Monero, Bitcoin Cash, Litecoin and all other digital assets. Their dominance adds perspective to the characterization that Bitcoin and privacy coins on the global stage are currently capable of mass disruption or fueling significant money laundering and criminal activity.
Accumulated government debt estimates by the International Monetary Fund are pegged at roughly $63 trillion, the result of an imperfect system. As a counter to the status quo, Bitcoin remains a social experiment that may prove more capable of managing money than the central banking system.
The following graphics from Visual Capitalist illustrate the full scope of world debt, the concentration of wealth, and the lack of balance in the current global financial landscape. They also reveal just how tiny the cryptocurrency market is.