Bitcoin’s market cap reaches 1.7% of global money, totaling $2.29 trillion, down from a high of $2.4 trillion. Gold and Bitcoin gain popularity as central banks inflate fiat currencies, pushing investors towards hard money alternatives.

Federal Reserve chair Powell signals rate cuts and monetary expansion, leading to a 2% surge in Bitcoin price to $116,000. Cryptocurrencies appreciate during monetary expansion, with 75% of investors expecting a 25 basis point rate cut in September.

Read more at Cointelegraph: Bitcoin Accounts for 1.7% of Global Money 16 Years After Inception: River