Yep, you read it right. The Philippine currency (PHP / Pesos) ranked 5th in the BTC volume by currency, worldwide. With total BTC volume of 2B pesos, next to Korean Won, Euro, USD and Japanese Yen. The Philippines is not that poor after all.
Currently driving. Will post more details later… (I can’t resist to make a blogpost while on the road, becuase I was surprised PHP reached top 5 by BTC volume, vs a few weeks ago when PHP didn’t even make it to the top 100).
UPDATE: After a few hours, 1B pesos worth of BTC was pulled out by one individual, resulting to a $100 BTC price drop and rank change of PHP currency in the BTC volume ranking from top 5 to top 6. Hong Kong Dollar now holds the top 5 spot.
Screenshot when PHP was top 5:
Checkout the live Market Analysis at https://www.cryptocompare.com/coins/btc/analysis/USD