Bitcoin signals supremacy as it reaches $17K, surpasses numerous world currencies

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In a recent price action, Bitcoin surpassed numerous world currencies, including the Russian ruble and Columbian pesos, signaling its continued supremacy as the ultimate cryptocurrency that is being widely recognized as the gold standard.

Within the last 24 hours, Bitcoin soared to a value of 62,102,236 Colombian pesos, breaking previous records set in 2017. Also, Bitcoin surpassed previous records relative to the Russian ruble. Records were also broken relative to the Sudanese pound, Brazilian real, Turkish lira, Argentine peso, Angolan kwanza, and Zambian kwacha.

In Venezuela where rampant inflation is the norm, Bitcoin has been officially hosted as an alternative currency over the standard bolivar soberano (VES) as well as the bolivar fuerte (VEF). It will be interesting to see whether other nations facing inflation and tanking currencies will begin to start accepting or w.

Bitcoin already reached previously held records relative to the dollar. Currently, the cryptocurrency is at $17,000, a number not seen since Dec. 2017. Analysts think that it is on track to reaching its famed $20,000 valuation which has not been reached a consecutive time.