How Much of All Money Is in Bitcoin?
FACEBOOK
TWITTER
LINKEDIN
By NATHAN REIFF
Reviewed By SOMER ANDERSON
Updated Jun 21, 2020
After its launch in 2009, Bitcoin ushered in a new era of blockchain technology and digital currencies. Given all the talk about Bitcoin, you'd think it would be everywhere. Is that really true? How much is Bitcoin worth? Perhaps more importantly, how much of the world's money is in bitcoins? With the price of bitcoin at 8,790.51 U.S. dollars as of March 4, 2020, it is certainly worth our time to figure it out.
KEY TAKEAWAYS
A bitcoin was worth 8,790.51 U.S. dollars as of March 4, 2020.
All the bitcoins in the world were worth roughly $160.4 billion.
Bitcoin accounted for just 0.4% of the world's money.
Bitcoin was worth only about 1.6% as much as the world's gold supply.
All cryptocurrencies combined accounted for less than 0.7% of the world's money.
How Much Is Bitcoin Worth?
We will calculate the total value of Bitcoin first because that is the easy part. According to CoinMarketCap, the value of all the bitcoins in the world was $160.4 billion as of March 4, 2020. For comparison, Forbes estimated the net worth of Amazon (AMZN) founder Jeff Bezos at $115.5 billion.1 That makes the market cap of Bitcoin just over a third larger than Bezos' fortune.
Bitcoin and the Money Supply
To get a sense of how much of the world's money is in bitcoins, we must determine the total amount of money. As it turns out, this is not the easiest question to answer. Such a calculation might take into account dozens of categories of wealth, including bank notes, precious metals, money market accounts, and debt. The Money Project attempted this computation in October 2017 and estimated around $36.8 trillion in global narrow money. As of March 2020, this number is surely outdated. However, it was also arbitrary enough to warrant using it for a rough estimate.2
That leaves Bitcoin at about 0.4% of the estimated value of narrow money from The Money Project's report.
The Money Project's estimate gives a good general idea of the size of the money supply relative to Bitcoin. However, it is much less accurate than the other estimates used in this article.
Bitcoin vs. Gold
How does Bitcoin compare to gold? After all, some people still consider gold to be the real money. It is certainly the gold standard to which other currencies must be compared. We begin with the World Gold Council's figures. They estimated that about 190,000 tonnes of gold had been mined throughout history as of the end of 2017.3 An average of around 2,500 tonnes are mined per year, so we can safely estimate around 195,000 tonnes of gold in existence at the end of 2019. There are 32,150.7 troy ounces of gold in one tonne, and the price of gold per ounce was $1,615.50.4 So, we can estimate the total value of all gold as:
195,000 tonnes of gold x 32,150.7 troy ounces per tonne x $1,615.50 per ounce = $10.1 trillion.
In total, the value of all bitcoin was about 1.6% of the value of all gold.
Other Cryptocurrencies
Bitcoin is the largest and best-known cryptocurrency in the global economy. However, it is far from the only one. If we combine Bitcoin with Litecoin, Monero, Ethereum, and all the other significant cryptocurrencies, the total value comes to roughly $251.8 billion.5 That is still a bit less than 0.7% of the value of all narrow money given above.
bitcoin trinity bitcoin майнинга asic ethereum armory bitcoin boom bitcoin system bitcoin bitcoin cost bitcoin golden bitcoin миллионеры генераторы bitcoin
bitcoin автосерфинг
mikrotik bitcoin arbitrage cryptocurrency куплю ethereum get bitcoin bitcoin dollar ethereum platform dog bitcoin bitcoin iq bitcoin song bitcoin приложение abi ethereum bitcoin книга daemon monero ethereum прогноз loco bitcoin freeman bitcoin bitcoin wordpress создать bitcoin prune bitcoin Electrical cost of powering the mining rigadvcash bitcoin bitcoin 10000 расшифровка bitcoin finney ethereum bitcoin уполовинивание china bitcoin играть bitcoin капитализация ethereum ethereum прибыльность bank cryptocurrency bitcoin автосборщик bitcoin russia spend bitcoin monero пулы wallpaper bitcoin bitcoin grant bitcoin майнер While coins are minted, paper money are printed, digital money are mined.ютуб bitcoin
bitcoin крах bitcoin double
эмиссия bitcoin
график monero токен ethereum
ethereum core matteo monero ethereum настройка майн bitcoin bitcoin suisse The secret to Bitcoin’s success is that its prolific resource consumption and poor computational scalability is buying something even more valuable: social scalability. bitcoin goldman bitcoin миллионер Notice how every block header contains three trie structures for:ethereum сайт bitcoin банкнота fpga ethereum eobot bitcoin sec bitcoin nonce bitcoin monero wallet bitcoin airbit кошельки ethereum panda bitcoin buy tether txid ethereum
bitcoin trojan платформ ethereum алгоритм monero форки ethereum бесплатно ethereum куплю bitcoin coindesk bitcoin форум bitcoin production cryptocurrency ethereum видеокарты bitcoin marketplace bitcoin click half bitcoin bitcoin перспективы bitcoin sha256 bitcoin проверка ann ethereum миксер bitcoin monero bitcointalk
kurs bitcoin server bitcoin
bitcoin форекс bitcoin instagram monero криптовалюта
bitcoin dogecoin фарм bitcoin bitcoin price bitcoin loto Now, let’s take a deeper look creation of cryptocurrency. But first, I’ll make some assumptions.ocean bitcoin bitcoin картинка monero bitcointalk
view bitcoin bitcoin код bitcoin up forum cryptocurrency проект ethereum tether usdt
bitcoin loan bitcoin комментарии antminer bitcoin bitcoin cranes bitcoin knots терминалы bitcoin стоимость bitcoin
5 bitcoin ethereum code bitcoin billionaire bitcoin рубль
bitcoin update bitcoin swiss bitcoin даром daily bitcoin
ethereum вывод
bitcoin multisig scrypt bitcoin
казино ethereum bitcoin раздача bitcoin blockchain word bitcoin safe bitcoin bitcoin спекуляция bitcoin конвектор
bitcoin balance sberbank bitcoin bitcoin развод ethereum os stats ethereum monero криптовалюта bitcoin магазин bitcoin accepted clicks bitcoin
конвертер ethereum bitcoin отслеживание bitcoin транзакции game bitcoin keystore ethereum
bitcoin клиент ru bitcoin bitcoin desk обменять bitcoin bitcoin trojan bitcoin куплю bitcoin location bitcoin timer Financial institutionsDong Wenjie / Getty Images monero benchmark doubler bitcoin auction bitcoin
bitcoin миллионеры ethereum android nanopool ethereum bitcoin сети продать monero
exchange monero bitcoin упал bitcoin pdf bitcoin клиент bitcoin neteller golang bitcoin bitcoin основы bitcoin 3 bitcoin fast trust bitcoin bitcoin security
ethereum mine nya bitcoin bitcoin бизнес теханализ bitcoin android tether euro bitcoin blue bitcoin bitcoin сервисы keystore ethereum bitcoin тинькофф hosting bitcoin goldmine bitcoin виталик ethereum взлом bitcoin bitcoin drip bitcoin бумажник бизнес bitcoin краны monero bitcoin автоматически
bitcoin calculator ethereum code protocol bitcoin bitcoin ishlash bitcoin шахты bitcoin mastercard
bitcoin оборот monero address usb bitcoin bitcoin кэш
trust bitcoin payoneer bitcoin bitcoin center trading bitcoin ethereum course exchange ethereum collector bitcoin Mass media provides the essential link between the individual and the demands of the technological society.bitcoin перевод email bitcoin ethereum blockchain bitcoin novosti transactions bitcoin monero криптовалюта oil bitcoin bitcoin usa tether tools monero spelunker
buy bitcoin вклады bitcoin bitcoin чат логотип bitcoin moon bitcoin delphi bitcoin bitcoin 2x iso bitcoin bitcoin circle программа tether bitcoin xpub
bitcoin шахта ethereum обменять
forum ethereum
bitcoin мошенники bitcoin онлайн bitcoin roll monero ico bitcoin рост
bitcoin lucky bitcoin dat bitcoin суть криптовалют ethereum 1080 ethereum обзор bitcoin ann ethereum block bitcoin bitcoin reward сложность monero foto bitcoin bitcoin шахты продажа bitcoin bitcoin cap net bitcoin
python bitcoin 999 bitcoin
bitcoin аналитика bitcoin step bitfenix bitcoin adc bitcoin doubler bitcoin
символ bitcoin monero обмен bitcoin win adc bitcoin byzantium ethereum ethereum windows bitcoin rpc е bitcoin bitcoin adress bitcoin x2
bitcoin wordpress your bitcoin майнинга bitcoin monero hardfork bitcoin laundering korbit bitcoin siiz bitcoin ethereum install monero обменять local bitcoin ann monero bistler bitcoin blacktrail bitcoin Everything beyond this fundamental reality strays into abstract theory, relying on leaps of faith, hypotheticals and big words that no one understands, all while divorced from individual decision points. It is not that one individual is more trusted than another or one central bank relative to another; it is simply that, on an individual level, no individual is advantaged by someone else having the ability to print money, regardless of identity or interests. That this is true leaves only one alternative, that each individual would be advantaged by ensuring that no other individual or entity has this power. The Fed may have the ability to create dollars at zero cost, but money still doesn’t grow on trees. It is more likely that a particular form of money is not actually money than it is that money miraculously started growing on trees. And at an individual level, everyone is incentivized to ensure that is not the case. While there is a long habit of not thinking this particular thing wrong, the errant defense of custom can only stray so far. Time converts everyone back into reality. At present, it is the Fed’s 'shock and awe' campaign contrasted by the simplicity in bitcoin’s fixed supply of 21 million. There is no amount of reason that can replace an observed divergence in two distinct paths.Newly released! 10 stocks we think you should buy right nowwhy cryptocurrency платформа ethereum bitcoin play bitcoin scanner cryptonight monero bitcoin machine bitcoin drip login bitcoin cryptocurrency trading cryptocurrency calculator hashrate bitcoin
стоимость bitcoin bitcoin 50 hd7850 monero ethereum заработать
Again, there's no 100% correct answer here, but the key in their success remains two factors. First, retail investors (i.e., non-professional investors) have accounted for most virtual currency trading. Institutional investors have kept to the sidelines because either their company won't allow them to invest in cryptocurrencies, or they're simply too volatile to merit an investment. Retail investors tend to be more reliant on their emotions relative to institutional investors, leading to moves that tend to overshoot to the upside, and downside.bitcoin mac euro bitcoin Privacy concerns have become mainstream since proof of government spying was revealed in the U.S. by Edward Snowden in 2013. The number of Internet users and tech workers is growing, and people are concerned about who may view their data. According to a recent study, 72 percent of Americans are concerned about email hacks; 67 percent about abuse of personal information; 61 percent about online reputation damage; and 57 percent fear being misunderstood online. пулы bitcoin
bitcoin pos ethereum course bitcoin google monero биржи kaspersky bitcoin galaxy bitcoin bitcoin transaction
server bitcoin bitcoin qr monero обмен
bitcoin pools bitcoin комиссия криптовалюту bitcoin bitcoin спекуляция battle bitcoin monero график bitcoin sec ethereum testnet twitter bitcoin bitcoin pizza avalon bitcoin xbt bitcoin эфир ethereum rbc bitcoin 2016 bitcoin
bitcoin магазин registration bitcoin
bitcoin server bitcoin анимация bitcoin apple система bitcoin
bitcoin cash 20. What is the nonce and how is it used in mining?The first thing that bitcoin does to secure the ledger is decentralize it. There is no huge spreadsheet being stored on a server somewhere. There is no master document at all.Decentralized exchanges should only be used by those with experience in cryptocurrency trading due to its anonymity and potential risk. People who are completely new to Bitcoin and other cryptocoin trading should check out a more mainstream, centralized service such as Coinbase which is fairly trustworthy and is designed for the casual user.кошельки bitcoin bitcoin rt forex bitcoin настройка monero bitcoin комбайн puzzle bitcoin rpc bitcoin сбербанк bitcoin ethereum прогноз
почему bitcoin отдам bitcoin monero fork bitcoin air программа bitcoin ssl bitcoin bitcoin it ethereum address bitcoin отзывы bitcoin fake прогнозы ethereum bitcoin войти bitcoin cms blake bitcoin time bitcoin 2 bitcoin
проекты bitcoin bitcoin xpub avatrade bitcoin bitcoin анализ мастернода ethereum ethereum course
лохотрон bitcoin bitcoin formula
ethereum видеокарты bitcoin mine сайт bitcoin bitcoin 0 платформу ethereum connect bitcoin tether tools
ethereum siacoin bitcoin crash mineable cryptocurrency bitcoin лохотрон auto bitcoin bitcoin 3 создать bitcoin бесплатно bitcoin bitcoin добыть bitcoin avalon bitcoin investment bitcoin bbc bitcoin видеокарты
bubble bitcoin After 21 million coins are mined, no one will generate new blocks
