Bitcoin has grown to represent approximately 1.7% of global money, as reported by River, a Bitcoin financial services company. This figure is derived from a comparison of Bitcoin's market cap against a total of $112.9 trillion in fiat currencies and $25.1 trillion in hard assets, excluding certain precious metals. Currently, Bitcoin's market cap is around $2.29 trillion, adjusting its share to about 1.66%. The rising percentage is attributed to increased currency printing by central banks, eroding purchasing power and pushing investors towards hard money alternatives like Bitcoin and gold. Following remarks from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium, where he hinted at potential interest rate cuts, Bitcoin's price surged to around $116,000. This correlation indicates that during periods of monetary expansion, Bitcoin and other cryptocurrencies tend to appreciate. Current market expectations reflect a 75% likelihood of a 25 basis point rate cut in September.

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